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Inventory Costing Methods--Perpetual Method Arrow Company is a retailer that uses the perpetual inventory system. August 1 Beginning inventory 5 Purchased 8 Purchased 11 Sold
Inventory Costing Methods--Perpetual Method Arrow Company is a retailer that uses the perpetual inventory system. August 1 Beginning inventory 5 Purchased 8 Purchased 11 Sold 80 units of Product A $1,600 total cost 100 units of Product A @ $2,116 total cost 200 units of Product A @ $4,416 total cost 170 units of Product A @ $4,800 total sale Calculate the inventory cost of item A on August 11 (after the sale) using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted average cost methods. Do not round until your final answers. Round your final answers to the nearest dollar. A. First-in, first-out Ending Inventory B. Last-in, first-out Ending Inventory C. Weighted average Ending Inventory B Save Answers
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