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Willets Coffee Equipment sells European style coffee makers and uses a periodic inventory system. Its inventory records show that at July 1, Willets had
Willets Coffee Equipment sells European style coffee makers and uses a periodic inventory system. Its inventory records show that at July 1, Willets had 12 units on hand at a cost of $220 each. Transactions related to purchase and sale of coffee makers in July were as follows: orf ni abni Per unit Date July 10 Transaction Sale Units Cost Sales price (6) 3 $510 July 15 Sale 4 $510 July 20 Purchase 5 $230 no (d) July 22 Purchase 6 $240 July 30 Sale 10 $500 srit no Instructions: ed bed 000 AC to For each of the following cost flow assumptions, calculate the ending inventory as at July 31 and the cost of goods sold for the month of July. Prove the cost of goods sold calculations. (a) FIFO For as sales dives 293(b) Average cost ni (c) LIFO USD tenitesh 803 yneqmoo you bevine eboog sffyed nebunt ni jon enew yerli baari no jon ensw aboog er
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a FIFO Beginning inventory 12 units at 220 each 2640 July 10 sale 3 units at 220 each from beginning ...Get Instant Access to Expert-Tailored Solutions
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