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need help Erie Jewelers sells gold earrings. Its beginning inventory of Model 407 gold earrings consisted of 120 pairs of earrings at $50 per pair
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Erie Jewelers sells gold earrings. Its beginning inventory of Model 407 gold earrings consisted of 120 pairs of earrings at $50 per pair Erle purchased two batches of Model 407 earrings during the year. The first batch purchased consisted of 160 pairs at $53 per pair the second batch consisted of 180 pairs at $56 per pair During the year Erle sold 430 pairs of Model 407 earrings. Required Determine the amount of product cost Erle would allocate to cost of goods sold and ending inventory assuming that Erle uses (a) FIFO, (6) LIFO, and (c) weighted average Determine the amount of product cost Erie would allocate to cost of goods sold and ending inventory assuming that Erie uses (a) FIFC (b) LIFO, and (c) weighted average Complete this question by entering your answers in the tabs below. Required A Required B Required Determine the amount of product cost Erle would allocate to cost of goods sold and ending Inventory assuming that Erle uses FIFO. FIFO Pairs Cost pel Pair Cost of Goods Sold so Total pairs sold Ending Inventory Required Determine the amount of product cost Ere would allocate to cost of goods sold and ending inventory assuming that Erle uses (a) FIFO (6) LIFO and (c) weighted average Complete this question by entering your answers in the tabs below. Required A Required Required Determine the amount of product contre would allocate to cost of goods sold and ending inventory anuming that Ero use LIFO LIFO Palt cont per Pair Cast of Goods Sold Total pairs old Ending Inventory Required Determine the amount of product cost Erie would allocate to cost of goods sold and ending inventory assuming that Erie uses (a) FIFO. (b) UFO, and (c) weighted average. Complete this question by entering your answers in the tabs below. Required A Required B Required Determine the amount of product cost Erie would allocate to cost of goods sold and ending Inventory assuming that Erie uses the weighted average method. (Do not found Intermediate calculation and round final answers to nearest whold dollar) Goods Available for Sale Conte Total Pales Palt Cost of goods sold Ending inventory Step by Step Solution
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