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this one is very challenging, various formulas tried Question 2 Incorrect Mark 0.00 out of 1.50 P Far question Inventory Costing Methods-Periodic Method Archer Company
this one is very challenging, various formulas tried
Question 2 Incorrect Mark 0.00 out of 1.50 P Far question Inventory Costing Methods-Periodic Method Archer Company is a retailer that uses the periodic inventory system August 1 Beginning inventory 110 units of Product A $1,600 total cost 5 Purchased 130 units of Product A $2,116 total cost 8. Purchased 230 units of Product A $4,416 total cost 11 Sold 180 units of Product Calculate the August cost of goods sold and the ending inventory at August 31 using (a) first.in, first-out. (b)last.in, first-out, and (c) the weighted average cost methods. Do not round until your final answers, Round your final answers to the nearest dollar, A First in, first-out Ending inventory$1,142,640 x Cost of Goods Solds 324,120 B.Last.in, first-out Ending Inventory Cost of Goods Sold 5 671,880 794,880 x C Weighted average cost Ending inventory $ Cost of Goods Sold 5 905,022 561,738 x Step by Step Solution
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