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The Baby Store had a beginning inventory on January 1 of 310 full-size strollers at a cost of $210 per unit. During the year, the
The Baby Store had a beginning inventory on January 1 of 310 full-size strollers at a cost of $210 per unit. During the year, the following purchases were made: Mar. 15 July 20 Sept. 4 Dec. 2 Units 78 62 24 11 Unit Cost $211 210 208 203 At the end of the year, there were 35 units on hand. The Baby Store uses a periodic inventory system. During the year, The Baby Store sold the strollers for $310 per unit. Calculate the number of units sold during the year and total sales revenue. units Number of units sold Sales revenue $ Determine the cost of the ending inventory and the cost of goods sold using (1) FIFO and (2) weighted average. (Round the weighted average cost per unit to two decimal places and final answers to decimal places, e.g. 5,275.) FIFO Weighted average Cost of goods sold 94578 $ $ Ending inventory 7225 $ Your answer is incorrect. Calculate gross profit using (1) FIFO and (2) weighted average. (Round answers to decimal places, e.g. 5,275.) FIFO Weighted average Gross profit $ $
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