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The Builder Co. has the following information available during the fiscal year ended December 31, 2020. 180 units Inventory, beginning Sold 145 units January 01
The Builder Co. has the following information available during the fiscal year ended December 31, 2020. 180 units Inventory, beginning Sold 145 units January 01 February 20 April 30 October 05 October 10 Purchased 350 units $30/unit $40/unit $32/unit $35/unit $50/unit Purchased 225 units Sold 540 units Builder Co. uses a perpetual inventory system. REQUIRED 1. Calculate in the tables a dollar value of ending inventory and cost of goods sold using the following methods: a. FIFO b. Moving weighted average C. Specific identification: on February 20 sold 145 units from the beginning inventory balance, on October 10 sold 320 units from April 30 purchase, 220 units from October 06 purchase 2. Using your calculation on Part 1, complete the following schedule: FIFO Moving weighted average Specific identification Sales Cost of goods sold Gross profit Gross profit ratio nits to two imal places round other numbers to the nearest Round dollar
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