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Singleton Company's perpetual inventory records included the following information: 11). If Singleton uses the LIFO cost flow method, its ending inventory would be? A. $4,490
Singleton Company's perpetual inventory records included the following information:
11). If Singleton uses the LIFO cost flow method, its ending inventory would be? A. $4,490 B. $1,300 C. $1,260 D. $1,000 12). If Singleton uses the FIFO cost flow method, its cost of goods sold would be? A. $4,000 B. $1,300 C. $4,130 D. $1,000 13). If Singleton uses the weighted-average cost flow method, its weighted-average cost per unit would be? A. $8.21 B. $9.50 C. $5.33 D. $6.75
Number of units and unit cost Total cost Date January 1 March 4 September 28 Beginning inventory Purchase 200 units @ $7.00 150 units @ $8.00 350 units @ $9.00 A A A $ $ 1,400 1,200 3,150 Purchase $ Number of units sold during the year: 520Step by Step Solution
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