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Warner Company purchased twenty-eight units of a product for $19 and later purchased fourteen more for $19.50. If the compan uses the weighted average cost
Warner Company purchased twenty-eight units of a product for $19 and later purchased fourteen more for $19.50. If the compan uses the weighted average cost flow method, and it sold one unit of the product for $35. its gross margin would be $19.17. Parker Company purchased an asset costing $47,000 on January 1, Year 1. The asset had an expected five year life and a $11,000 salvage value. Based on this information, the amount of depreciation expense and accumulated depreciation appearing on the Year 2 financial statements would be (assume straight-line depreciation)
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