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Use the following inventory information for the month of May to answer questions 4 through 7: May 1 Beginning inventory 20 units@ $19 7 Purchase70
Use the following inventory information for the month of May to answer questions 4 through 7: May 1 Beginning inventory 20 units@ $19 7 Purchase70 units@ $20 22 Purchase10 units@ $22 Units sold in May: 65 units 4.Assuming that a periodic inventory system is used, what is ENDING INVENTORY (not Cost of Goods Sold) under the weighted average cost method? a. $700.00 c. $680.00 b. $711.67 d. $720.00
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Financial & Managerial Accounting
Authors: Carl Warren
12th Edition
1285534646, 978-1133952428
