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Vaughn Company had a beginning inventory on January 1 of 200 units of Product 4-18-15 at a cost of $20 per unit. During the
Vaughn Company had a beginning inventory on January 1 of 200 units of Product 4-18-15 at a cost of $20 per unit. During the year, purchases were as follows. Mar. 15 July 20 430 units at $22 Sept. 4 300 units at $24 220 units at $22 Dec. 2 100 units at $29 Vaughn Company uses a periodic inventory system. Sales totaled 1,030 units. Determine the cost of goods available for sale. The cost of goods available for sale $ eTextbook and Media Calculate average cost per unit. (Round answer to 3 decimal places, e.g. 1.250.) Average cost per unit $ eTextbook and Media Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to O decimal places, e.g. 1,250.) The ending inventory The cost of goods sold $ eTextbook and Media FIFO LIFO $ AVERAGE-COST Which cost flow method results in the highest inventory amount for the balance sheet? The highest cost of goods sold for the income statement? results in the highest inventory amount, $ produces the highest cost of goods sold, $
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