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Use the following information to answer the questions which follow. The Mahomes Company has the following inventory and credit purchases during the fiscal year ended
Use the following information to answer the questions which follow.
The Mahomes Company has the following inventory and credit purchases during the fiscal year ended Descember
tableBeginning units @ $unitFeb units @ $unitAug units @ $unit
Mahomes Company has two credit sales during the period. The units have a selling price of $ per unit.
Sales
Mar. units
Sept. units
Mahomes Company uses a perpetual inventory system.
Calculate the dollar value of cost of goods sold and ending inventory using FIFO and Moving Weighted Average Input the correct values in the tables below with two decimal places:
Table : FIFO perpetual
Date
Purchases
Sales at cost
Balance
Units
Beginning
Unit Cost
Total Cost
Units
Unit Cost Inventory
January
February
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