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Please type or write as neatly as you can. A Company uses a perpetual inventory system. It entered into the following purchases and sales transactions
Please type or write as neatly as you can.
A Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Units Sold at Retail Units Acquired at Cost 100 units @ $45.00 per unit 400 units @ $50.00 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales 420 units @ $95.00 per unit 120 units @ $55.00 per unit 200 units $60.00 per unit 160 units @ $95.00 per unit 580 units Totals 820 units Create an inventory schedule table and calculate the revenue, cost of goods sold, gross profit and inventory balance. A) As the company use FIFO B) As the company use Weighted AverageStep by Step Solution
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