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Question 4: (26 marks) Assume the following data for Kruger Sales for November 2013: Beginning inventory Nov. 1 5 units at $90 each Sale Nov.
Question 4: (26 marks) Assume the following data for Kruger Sales for November 2013: Beginning inventory Nov. 1 5 units at $90 each Sale Nov. 3 3 units Nov. 6 purchase 11 units at $95 each Sale Nov. 8 4 units Sale Nov. 9 3 units Requirement 1: calculate ending inventory and COGS for Kruger Sales assuming FIFO (10 marks) Requirement 2: calculate ending inventory and COGS for Kruger Sales assuming Weighted Average (6 marks)
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Financial Accounting Tools for business decision making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th Edition
978-1119191674, 047053477X, 111919167X, 978-0470534779
