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Super Shop reported the following information: Units Unit Cost Units Sold Beginning inventory (Jan. 1) 4 $400 Purchase (Feb.1) 2 $405 Sale (Mar. 1) 2
Super Shop reported the following information:
Units | Unit Cost | Units Sold | |
---|---|---|---|
Beginning inventory (Jan. 1) | 4 | $400 | |
Purchase (Feb.1) | 2 | $405 | |
Sale (Mar. 1) | 2 | ||
Purchase (Apr. 15) | 2 | $410 | |
Sale (June 22) | 5 | ||
Purchase (Oct. 11) | 4 | $415 | - |
Super shop sells its products for $600 cash
All purchases by Super Shop are made on account
1. Calculate the cost of goods sold and ending inventory using perpetual FIFO
2. Record the journal entries
3. Calculate the cost of goods sold and ending inventory using the perpetual moving weighted average
4. Record the journal entries
5. Calculate the cost of goods sold and ending inventory using the periodic weighted average
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