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The windy company has the fallowing inventory and purchases during the fiscal year ended December 31 2020 Begging inventory 315 units @ $87/unit Feb10 Purchased
The windy company has the fallowing inventory and purchases during the fiscal year ended December 31 2020
Begging inventory | 315 units | @ $87/unit | |
Feb10 Purchased | 330 unit | @ $91/unit | |
Feb20 Sold | 395 units | @ $167/unit | |
March13 Purchased | 261units | @ $85/unit | |
Sept5 Purchased | 280 units | @ $71/unit | |
Oct10 Sold | 535 units | @ $167/unit |
The windy company employs a perpetual inventory system
1. Calculate the dollar value of ending inventory of cost and goods sold using (Round your intermediate calculations and final answer to 2 decimal places)
Ending inventory | Cost of goods sold | |
a. FIFO | ? | ? |
b. Moving Weighted Average | ? | ? |
2. Using your calculations from Part 1 complete the fallowing Schedule. (Round your intermediate calculations and final answer to 2 decimal places)
FIFO | Moving weighted average | |
Sales | ? | ? |
Costs of goods sold | ? | ? |
Gross profit | ? | ? |
Please fill in the blanks where I have question marks in the chart thank you!
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