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The following is the perpetual inventory tracking history of a company's product, maintained under the Weighted Average method: Date Transaction Units $/Unit Feb 1 Opening
The following is the perpetual inventory tracking history of a company's product, maintained under the Weighted Average method: Date Transaction Units $/Unit Feb 1 Opening Bal 100 $ 65.80 Feb 7 Purchase 34 $ 65.89 Feb 11 Sale 102 ??? Feb 14 Purchase 107 $ 62.00 Feb 17 Sale 46 ??? REQUIRED: Determine the balances for ending Inventory and Cost of Goods Sold for the month of February. How would your answer change if they switched methods to First-In, First Out? Make sure you show all your work. (10 marks)
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