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Unit Cost $4.50 Total Cost $1,395 Transactions Inventory, January 1 Sale, January 10 Purchase, January 12 Sale, January 17 Purchase, January 26 Units 310 (260)
Unit Cost $4.50 Total Cost $1,395 Transactions Inventory, January 1 Sale, January 10 Purchase, January 12 Sale, January 17 Purchase, January 26 Units 310 (260) 360 (100) 80 5.00 1,800 6.00 480 Assume that for Specific identification method the January 10 sale was from the beginning inventory and the January 17 sale was from the January 12 purchase. Required: 1. Compute the amount of goods available for sale, ending inventory, and cost of goods sold at January 31 under each of the following inventory costing methods: (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.) Amount of Goods Available for Sale Ending Inventory Cost of Goods Sold a. Weighted average cost b. First-in, first-out c. Last-in, first-out d. Specific identification
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