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On 01/01 (beginning), a company had 1,000 units of inventory with a $10 cost per unit. During January the company purchased a total of
On 01/01 (beginning), a company had 1,000 units of inventory with a $10 cost per unit. During January the company purchased a total of 6,900 units, as follows: on 01/05: 3,000 units at $12 cost per unit on 01/16: 2,000 units at $15.80 cost per unit on 01/23: 1,900 units at $22 cost per unit During January, the company sold a total of 4,500 units, as follows: on 01/12: 1,700 units for $25 selling price per unit on 01/20: 1,200 units for $23.10 selling price per unit on 01/29: 1,600 units for $24 selling price per unit Assume a perpetual inventory system & moving weighted-average costing. What is cost of goods sold for January? (Do not include any words or signs in your answer; enter number only) $ Additional Question: Continue to assume a perpetual inventory system for the company. Would cost of goods sold using LIFO costing be greater than, less than, or equal to cost of goods sold using moving weighted-average costing? Type one word as your answer: type the word "greater" or the word "less" or the word "equal". (Do not include quotation marks)
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