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The Baby Store had a beginning inventory on January 1 of 320 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 320 full-size strollers at a cost of $210 per unit. During the year, the following purchases were made: Unit Cost Mar. 15 July 20 Sept. 4 Dec. 2 Units 80 62 23 10 $211 210 208 203 At the end of the year, there were 33 units on hand. The Baby Store uses a periodic inventory system Determine the cost of goods available for sale. Cost of goods available for sale During the year, The Baby Store sold the strollers for $280 per unit Calculate the number of units sold during the year and total sales revenue Number of units sold units Sales revenue Calculate gross profit using (1) FIFO and (2) weighted average. (Round answers to decimal places, eg. 5,275.) FIFO Weighted average Gross pront 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, es. 5.275.) FIFO Weighted average Cost of goods sold Ending inventory $ $
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