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Inventory Costing Methods-Perpetual Method The following information is for the Bloom Company for 2012; the company sells just one product: Beginning Inventory Jan. 1 Purchases:
Inventory Costing Methods-Perpetual Method The following information is for the Bloom Company for 2012; the company sells just one product: Beginning Inventory Jan. 1 Purchases: Feb. 11 May 18 Oct. 23 March 1 July 1 Units Unit Cost 200 $21 500 $25 400 27 100 31 400 400 Sales: Calculate the value of ending inventory and cost of goods sold using the perpetual method and (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 $ 9,200 X Cost of goods sold $ 9,200 x B. Last-in, first-out: Ending Inventory$ 0 x Cost of goods sold $ C. Weighted Average Ending Inventory Cost of goods sold $ 0 x
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