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Please explain how you obtain the answer for each question. Thank you!! 21. Inventory records for Dunbar Incorporated revealed the following: Number Unit Date Transaction
Please explain how you obtain the answer for each question. Thank you!!
21. Inventory records for Dunbar Incorporated revealed the following: Number Unit Date Transaction of Units Cost Apr. 1 Beginning inventory 560 $2.46 Apr. 20 Purchase 300 2.71 Dunbar sold 620 units of inventory during the month. Ending inventory assuming weighted average cost would be (Do not round your intermediate calculations, Round weighted average unit cost to four decimals if necessary. Round your answer to the nearest dollar amount): $579, $681 $620. $611 22. Northwest Fur Co. started the year with $98,000 of merchandise inventory on hand. During the year, $435,000 in merchandise was purchased on account with credit terms of 1/15, 1/45. All discounts were taken. Northwest paid freight-in charges of $8,000. Merchandise with an invoice amount of $4,700 was retumed for credit. Cost of goods sold for the year was $379,000. What is ending inventory? $56,000. $156,992. $152,997 $157,300Step by Step Solution
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