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Western Imports provided the following information regarding its inventory for the current year, its second year of operations. (Click the icon to view the
Western Imports provided the following information regarding its inventory for the current year, its second year of operations. (Click the icon to view the information.) Requirement Compute Western's ending inventory and cost of goods sold under each of the following cost-flow assumptions assuming a perpetual inventory system. (Round your answer for cost per unit to two decimal places.) a. Moving Average b. FIFO c. LIFO Requirement a. Compute Western's ending inventory and cost of goods sold under the moving-average cost-flow assumption assuming a perpetual inventory system. Begin by entering Western's purchase and sale transactions in chronological order one line at a time, calculating a new moving-average cost per unit after every transaction. (Use a minus sign or parentheses for units sold or for a reduction in cost. Round your answer for cost per unit to two decimal places.) Moving-average: Units Purchased Average Unit Transaction (Sold) Cost Cumulative Units Total Cost Cumulative Cost Cost Per Unit Beginning inventory 37,000 $ 4.00 37,000 $ 148,000 $ 148,000 $ 4.00 Purchase - February 8 46,000 188,600
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