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Please complete A) and B), will upvote once finished. Thanks :)! Marin Company uses a perpetual inventory system. Beginning inventory is 2,800 T-shirts at a
Please complete A) and B), will upvote once finished. Thanks :)!
Marin Company uses a perpetual inventory system. Beginning inventory is 2,800 T-shirts at a cost $2.50 per shirt. During the year Marin had the following inventory transactions: Jan. 12 Purchased 560 cost @ 2.15 per unit Feb. 18 Sold 1,500 cost @6.50 per unit Jul. 1 Purchased 1,300 cost @ 2.65 per unit Aug. 29 Sold 1,600 cost @7.50 per unit Dec. 19 Purchased 560 cost @3.05 per unit All purchases and sales are on account Instructions a) Calculate the cost of goods sold and ending inventory using a weighted average Round per unit amounts to two decimal places b) Prepare journal entries to record the February 18 and the August 29 sales. All sales and purchases are made in cashStep by Step Solution
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