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The records of Cordova Corp. showed the following transactions, in the order given, relating to the major inventory item: Units Unit Cost 1. Inventory 3,400
The records of Cordova Corp. showed the following transactions, in the order given, relating to the major inventory item:
Units | Unit Cost | ||||
1. | Inventory | 3,400 | $ | 9.20 | |
2. | Purchase | 6,800 | 9.50 | ||
3. | Sale (at $19.60) | 4,600 | |||
4. | Purchase | 5,800 | 9.80 | ||
5. | Sale (at $19.60) | 10,200 | |||
6. | Purchase | 12,200 | 9.96 | ||
7. | Sale (at $22.60) | 10,200 | |||
8. | Purchase | 6,800 | 10.10 | ||
Required: Complete the following schedule for each independent assumption. (Round unit costs to the nearest cent.):
The records of Cordova Corp. showed the following transections, in the order given relating to the major inventory item: Units Unit Cost 1. Inventory 3,400 9.9.20 2. Purchase 6,800 9.30 3. Bale rat $15.60 4,600 4. Nechce 5,80 9.30 5. Bale (at $19.60) 10,200 5. Puha 12,200 9.36 1. Surat $22.60 10,200 Purchase 1,80 10.10 Required: Complete the following schedule for each independerit essumption. (Round unit costs to the nearest cent.) Units and Amounts Cost of Goods Sold Ending Inventory Grass Margin Independent Assumptions FIFO b. Weighted average, periodo inventory system c. Moving average perpctualimentary systemStep by Step Solution
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