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Perpetual: LIFO and Moving - Average The beginning inventory, purchases, and sales for Myrl Sign Company for the month of April are shown. table
Perpetual: LIFO and MovingAverage
The beginning inventory, purchases, and sales for Myrl Sign Company for the month of April are shown.
tableDateBeginning Inventory and Purchases,SalesUnits,CostUnitUnitsApril BI$April April
BI: Beginning Inventory
Required:
Calculate the total amount to be assigned to cost of goods sold for April and the ending inventory on April under each of the following methods. In your calculations round the average unit cost to the nearest cent and answers to the nearest dollar.
Cost of Goods Sold
Inventory on Hand
Perpetual LIFO inventory method
Perpetual movingaverage inventory method
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