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t Unit Bold at Retail 185 units 25.00 Dace ACTIVICES Us Acquired at Cont Jan. 1 Beginning inventory 235 unita $16.00 $ 3.760 Jan. 10
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Unit Bold at Retail 185 units 25.00 Dace ACTIVICES Us Acquired at Cont Jan. 1 Beginning inventory 235 unita $16.00 $ 3.760 Jan. 10 Sales Jan. 20 Purchase 180 unita $15.00- 2,700 Jan. 25 Sales Jan. 30 Purchase 370 unitae $14.50 5, 365 Totals 785 units $11, 825 200 unit @ $25.00 385 unita The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 400 units, where 370 are from the January 30 purchase, 5 are from the January 20 purchase, and 25 are from beginning inventory Required: 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification 2. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. 3. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO Step by Step Solution
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