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Marlow Company uses a perpetual inventory system. During the year, it entered into the following purchases and sales transactions. Date Activities Jan. 1 Beginning
Marlow Company uses a perpetual inventory system. During the year, it entered into the following purchases and sales transactions. Date Activities Jan. 1 Beginning inventory Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Totals Units Acquired at Cost 760 units @ $44 per unit 240 units @ $40 per unit 180 units @ $20 per unit Units Sold at Retail 440 units @ $75 per unit 200 units @ $60 per unit 320 units @ $48 per unit 1,700 units 320 units @ $75 per unit 760 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of goods available for sale Number of units available for sale units 2. Compute the number of units in ending inventory. Ending inventory units
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