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Using the data below, assume that Cracker Corporation uses the perpetual inventory system. Calculate the value of ending inventory and cost of goods sold
Using the data below, assume that Cracker Corporation uses the perpetual inventory system. Calculate the value of ending inventory and cost of goods sold for the year using the perpetual method and (a) first-in, first-out, (b) last-in, first-out, and (c) weighted-average cost method. Unit Units Cost Beginning Inventory, January 1 1,200 $18 Purchases: February 11 May 18 1,500 19 1,400 20 October 23 1,100 23 Sales: March 1 1,400 July 1 1,400 October 29 1,000 Round the cost per unit to 3 decimal places and round your final answers to the nearest dollar.
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