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Sheridan Company Inc. had a beginning inventory of 100 units of Product RST at a cost of $7 per unit. During the year, purchases were:
Sheridan Company Inc. had a beginning inventory of 100 units of Product RST at a cost of $7 per unit. During the year, purchases were: at at $10 Feb. 20 May 5 600 units 510 units $8 $9 Aug. 12 Dec. 8 390 units 100 units at at $11 Sheridan Company uses a periodic inventory system. Sales totaled 1,435 units. (a) Your answer is correct. Determine the cost of goods available for sale. The cost of goods available for sale $ 15090 e Textbook and Media Attempts: 2 of 4 used Question Part Score 2.5/2.5 (51) Your answer is correct. Calculate average cost per unit. (Round answer to 3 decimal places, e.g. 2.237.) Average cost per unit $ 8.876 e Textbook and Media Attempts: 2 of 4 used Question Part Score 2.5/2.5 (b2) Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to 0 decimal places, e.g. 5,125.) FIFO LIFO AVERAGE-COST $ $ $ The ending inventory The cost of goods sold $ $ $
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