Question
use the following information to complete this exercise: sales, 550 units for $16950; beginning inventory, 300 units; purchases, 400 units ; ending inventory, 150 units;
use the following information to complete this exercise: sales, 550 units for $16950; beginning inventory, 300 units; purchases, 400 units ; ending inventory, 150 units; and operating expenses, $7000.
complete the table for each situation. In situations A and B (costs rising), assume the following: beginning inventory, 300 units at $15 =$4500; purchases, 400 units at $17=$6800. In situations C and D (costs falling), assume the opposite; that is, beginning inventory, 300 units at $17= $5100; purchases, 400 units at $15= $6000. use periodic inventory procedures
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