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Please solve both FIFO and Moving wieghted average with steps and proper explanation for all four boxes. Thanks Exercise 6-5 Alternative cost flow assumptions-perpetual inventory
Please solve both FIFO and Moving wieghted average with steps and proper explanation for all four boxes. Thanks
Exercise 6-5 Alternative cost flow assumptions-perpetual inventory system LO2 Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2020 as follows: Jan. 1 Beginning inventory Jan. 10 Sold Mar. 7 Purchased Mar. 15 Sold July 28 Purchased Oct. 3 Purchased Oct. 5 Sold 130 units $ 7.20 = $ 936.00 60 units @ $15.70 942.00 320 units @$ 6.50 = 2,080.00 120 units @ $15.70 = 1,884.00 570 units @$ 6.30 = 3,591.00 520 units @ $ 6.20 = 3,224.00 710 units @ $15.70 = 11,147.00 3. Determine the share of the cost of goods available for sale calculated in Part 1 that should be assigned to ending inventory and to goods sold under: (Do not round the intermediate calculations and round the final answers to nearest whole dollar.) Answer is not complete. Ending Inventory 3,602 X Cost of Goods Sold a. FIFO $ b Moving weighted average
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