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Please show me step by step how to find each and why. QUESTION 2 Partially correct Mark 1.00 out of 6.00 P Flag question Computing
Please show me step by step how to find each and why.
QUESTION 2 Partially correct Mark 1.00 out of 6.00 P Flag question Computing Cost of Sales and Ending Inventory Howell Company has the following financial records for the current period Purchases: #1 #2 #3 eginning Inventory 150 600 500 250 Units Unit Cost $100 96 92 90 Ending inventory is 350 units. Compute the ending inventory and the cost of goods sold for the current period using (a) first-in, first out, (b) average cost, and (c) last-in, first out. (Hint: For average cost, round average cost per unit to two decimal places for calculation of ending inventory. Round to the nearest whole number. Cost of goods sold Cost of goods available for sale less ending inventory.) (a) First-in, first-out Ending inventory 317 x Cost of goods sold 109,400V (b) Average cost Ending inventory 32,923 X Cost of goods sold 109,177X (c) Last-in, first-out Ending inventory 39,000 Cost of goods sold 102,100 XStep by Step Solution
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