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Record all transactions in appropriate T-accounts (costs by function, LIFO perpetual), close all accounts, and calculate the ending balances. Opening balances: Material A: 100 units

Record all transactions in appropriate T-accounts (costs by function, LIFO perpetual), close all accounts, and calculate the ending balances.

Opening balances:

Material A: 100 units x 2,5 / unit = 250

                50 units x 2,3 / unit = 115,00

Traded goods: 125 units x 3,1 / unit = 387,50

                               25 units x 3,3 / unit = 82,50

Trade payable: 835

a)      The company purchased 50 units of Material A at a price of 2,7 / unit.

b)      The company used in production 200 units of Material A.

c)       The company sold 50 units of Traded goods at a price of 6 / unit with deferred payment and delivered the goods to the client.

d)      The company received an invoice for energy used (in production); the value of 860.

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