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Stewart Company's inventory records for the most recent year contain the following data: (Click the icon to view the data.) Stewart Company sold a total
Stewart Company's inventory records for the most recent year contain the following data: (Click the icon to view the data.) Stewart Company sold a total of 19,800 units during the year. Read the requirements. Requirement 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. (Round the average cost per unit to the nearest cent.) 194,040 Average-cost method cost of goods sold = Average-cost method ending inventory = - X $ 1,960 Data Table Requirement 2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year. FIFO method cost of goods sold = FIFO method ending inventory = Quantity Unit Cost 2,000 8.00 Beginning inventory Purchases during year 18,000 $ 10.00 Print Done
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