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Transaction Units Cost per Unit January 1 Balance 1 7 5 $ 8 6 March 1 4 Sale 6 7 May 2 3 Purchase 1
Transaction Units Cost per Unit
January Balance $
March Sale
May Purchase
August Sale
November Purchase
November Sale
November Sale
December Sale
December Purchase
Required:
Compute the cost of goods sold and ending inventory using the perpetual inventory system for the FIFO cost flow
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Financial Reporting And Analysis
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
8th Edition
1260247848, 978-1260247848
