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Transactions Units Unit Cost Beginning inventory, January 1 1,700 $ 45 Transactions during the year: a. Purchase, January 30 3,800 56 b. Sale, March 14

Transactions

Units

Unit Cost

Beginning inventory, January 1

1,700

$

45

Transactions during the year:

a.

Purchase, January 30

3,800

56

b.

Sale, March 14 ($100 each)

(2,100

)

c.

Purchase, May 1

2,500

75

d.

Sale, August 31 ($100 each)

(2,600

)

image text in transcribed
Paragraph 12 13 Styles Unit Cost Units 1,700 $ 45 Transactions Beginning inventory, January 1 Transactions during the year: a. Purchase, January 30 Sale, March 14 ($100 b. each) c. Purchase, May 1 Sale, August 31 ($100 d. each) 56 3,800 (2,100) 2,500 (2,600) 75 Assuming that for Specific identification method (item ld) the March 14 sale was selected two- fifths from the beginning inventory and three-fifths from the purchase of January 30. Assume that the sale of August 31 was selected from the remainder of the beginning inventory, with the balance from the purchase of May 1. Compute the amount of goods available for sale, ending inventory, and cost of goods sold at December 31 under each of the following inventory costing methods: amount goods available for sale Ending Inventory Costs bf goods sold 1. last in first out: 476800 2. weighted average cost: 476800 3. First in, first out: 476800 4. Specific Indentification 5. specific identification: 476800 only got amount of goods available for sale can you put formulas and how you got each answer? will be beneficial

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