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Singh Company sold 75 units @ $350 each on October 31, 2021. The following information is also available: Required: a) Determine the amount of cost
Singh Company sold 75 units @ $350 each on October 31, 2021. The following information is also available:
Required:
a) Determine the amount of cost of goods sold using: FIFO LIFO Weighted Average
b) Determine the amount of ending inventory using: FIFO LIFO Weighted Average
Beginning inventory 25 units @ $175 Feb. 2 purchase 20 units @ $180 June 15 purchase 45 units @ $200 Oct. 1 purchase 30 units @ $220Step by Step Solution
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