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value 0.57 points E7-6 Analyzing and Interpreting the Financial Statement Effects of Periodic FIFO, LIFO, and Weighted Average inventory costing method at the end of
value 0.57 points E7-6 Analyzing and Interpreting the Financial Statement Effects of Periodic FIFO, LIFO, and Weighted Average inventory costing method at the end of the year, as it it uses a periodic inventory system. Assume its acounting records provided the following information at the end of the annual accounting penod December 31 Unit ransactions Units Cost 350 S14 a Inventory, Beginning For the year b. Purchase, Apnl 11 c Purchase, June 1 d Sale, May 1 (sold for $42 per unit) e Sale July 3 (sold for $A2 per unit) f Operating expenses (excluding income tax expense) $18.000 950 12 700 15 350 610 Required: Caiculate the number and cost of goods avalable for sal Number of Goods Available for Sale Cost of Gopds Avallable for Sale
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