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Please help with this question with explanation. Thank you!! For this Question I need help finding the weighted average. The IFFO and LIFO questions re
Please help with this question with explanation. Thank you!!
For this Question I need help finding the weighted average. The IFFO and LIFO questions re correct. Just help finding the weighted average. Thank you.
Required information [The following information applies to the questions displayed below.] The Shirt Shop had the following transactions for T-shirts for Year 1, its first year of operations. During the year, The Shirt Shop sold 1,200 T-shirts for $24 each. Required a. Compute the amount of ending inventory The Shirt Shop would report on the balance sheet, assuming the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average. (Round cost per unit to 2 decimal places and final answers to the nearest whole dollar amount.) Required information [The following information applies to the questions displayed below.] The following information pertains to Mason Company for Year 2. Ending inventory consisted of 34 units. Mason sold 392 units at $66 each. All purchases and sales were made with cash. Operating expenses amounted to $3,075. Compute the amount of ending inventory using (1) FIFO, (2) LIFO, and (3) weighted average. (Round cost per unit to 3 decimal aces and final answers to the nearest whole dollar amount.)Step by Step Solution
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