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Sheffield Inc. is a retailer operating in British Columbia. Sheffield uses the perpetual inventory system. All sales returns from customers result in the goods being
Sheffield Inc. is a retailer operating in British Columbia. Sheffield uses the perpetual inventory system. All sales returns from customers result in the goods being returned to inventory; the inventory is not damaged. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Sheffield Inc. for the month of January Date Description Quantity Unit Cost or Selling Price January Beginning inventory $ January Purchase January Sale January Sale return January Purchase January Purchase return January Sale January Purchase a Calculate the Movingaverage cost per unit at January & Round movingaverage cost per unit answers to decimal places, eg a for each of the following cost flow assumptions, calculate cost of goods sold, ending inventory, and gross profit. LIFO FIFO movingaverage cost Round averagecost per unit to decimal places eg and final answer to decimal places eg Only answers
Sheffield Inc. is a retailer operating in British Columbia. Sheffield uses the perpetual inventory system. All sales returns from customers result in the goods being returned to inventory; the inventory is not damaged. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Sheffield Inc. for the month of January
Date
Description
Quantity
Unit Cost or Selling Price
January
Beginning inventory
$
January
Purchase
January
Sale
January
Sale return
January
Purchase
January
Purchase return
January
Sale
January
Purchase
a
Calculate the Movingaverage cost per unit at January & Round movingaverage cost per unit answers to decimal places, eg
a for each of the following cost flow assumptions, calculate cost of goods sold, ending inventory, and gross profit. LIFO FIFO movingaverage cost Round averagecost per unit to decimal places eg and final answer to decimal places eg Only answers
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