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The cost of goods please On December 1, 2022, Coronado Company had the account balances shown below. (3,400$0.60) The following transactions occurred during December: Dec.
The cost of goods please
On December 1, 2022, Coronado Company had the account balances shown below. (3,400$0.60) The following transactions occurred during December: Dec. 3 Purchased 4,800 units of inventory on account at a cost of $0.74 per unit. 5 Sold 5,200 units of inventory on account for $0.90 per unit. (Coronado sold 3,400 of the $0.60 units and 1,800 of the $0.74.) 7 Granted the December 5 customer $159 credit for 200 units of inventory returned costing $106. These units were returned to inventory. 17 Purchased 2,300 units of inventory for cash at $0.80 each. 22 Sold 2,500 units of inventory on account for $0.95 per unit. (Coronado sold 2,500 of the $0.74 units.) Adjustment data: 1. Recognized accrued salaries payable $700. 2. Recognized depreciation $360 per month. Your answer is partially correct. Compute ending inventory and cost of goods sold under FIFO, assuming Coronado Company uses the periodic inventory system. Ending Inventory $ Cost of Goods Sold $ eTextbook and MediaStep by Step Solution
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