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Singleton Company's perpetual Inventory records included the following information: Date January 1 March 4 September 28 Beginning inventory Purchase Purchase Number of units and unit
Singleton Company's perpetual Inventory records included the following information: Date January 1 March 4 September 28 Beginning inventory Purchase Purchase Number of units and unit cost Total cost 220 units @ $8 $1,760 170 units @ $10 $1,700 390 units @ $10 $3,900 Number of units sold during the year: 580 If Singleton uses the LIFO cost flow method, its ending Inventory would be $1,600. True or False True False Singleton Company's perpetual Inventory records included the following information: UU Date January 1 March 4 September 28 Beginning inventory Purchase Purchase Number of units and unit cost Total cost 220 units @ $8 $1,760 170 units @ $10 $1,700 390 units @ $10 $3,900 Number of units sold during the year: 580 If Singleton uses the FIFO cost flow method, its cost of goods sold would be $5,250. True or False True False False Singleton Company's perpetual Inventory records included the following information: Date January 1 March 4 September 28 Beginning inventory Purchase Purchase Number of units and unit cost Total cost 220 units @ $8 $1,760 170 units @ $10 $1,700 390 units @ $10 $3,900 Number of units sold during the year: 580 if Singleton uses the weighted average cost flow method, Its average cost per unit would be $10.00 True or False True False
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