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Sage Hill Supplies Company sells many different widgets and uses a perpetual inventory system. During August 2024, the company had beginning inventory, purchases, and
Sage Hill Supplies Company sells many different widgets and uses a perpetual inventory system. During August 2024, the company had beginning inventory, purchases, and sales for widget X as follows: Per unit Date Transaction Units Cost Beginning Inventory 200 $37 Aug 5 Sale 100 10 Purchase 139 $27 15 Sale 50 25 Sale 75 Prepare a schedule to determine the cost of goods sold and ending inventory using the FIFO cost formula for the month ended August 31,2024.
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