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At the beginning of its operations in March 2024, Larkspur Supplies Ltd. began with 6,120 units of inventory that it purchased at a cost of $7.50 each. The company's purchases during March were as follows: March 13 Sales during March: 4,080 units @ $8.25 March 2 4,080 units March 20 2,280 units

At the beginning of its operations in March 2024, Larkspur Supplies Ltd. began with 6,120 units of inventory that it purchased at a cost of $7.50 each. The company's purchases during March were as follows: March 13 Sales during March: 4,080 units @ $8.25 March 2 4,080 units March 20 2,280 units

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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At the beginning of its operations in March 2024, Larkspur Supplies Ltd. began with 6,120 units of inventory that it purchased at a cost of $7.50 each. The company's purchases during March were as follows: March 13 Sales during March: 4,080 units @ $8.25 March 2 4,080 units March 20 2,280 units Larkspur Supplies uses a perpetual inventory system. (a) Calculate the cost of goods sold for March using the weighted-average cost formula. (Round calculations for cost per unit to 4 decimal places, e.g. 10.5219 and final answer to O decimal places, e.g. 61,052.) Cost of goods sold eTextbook and Media
Transcribed Image Text:At the beginning of its operations in March 2024, Larkspur Supplies Ltd. began with 6,120 units of inventory that it purchased at a cost of $7.50 each. The company's purchases during March were as follows: March 13 Sales during March: 4,080 units @ $8.25 March 2 4,080 units March 20 2,280 units Larkspur Supplies uses a perpetual inventory system. (a) Calculate the cost of goods sold for March using the weighted-average cost formula. (Round calculations for cost per unit to 4 decimal places, e.g. 10.5219 and final answer to O decimal places, e.g. 61,052.) Cost of goods sold eTextbook and Media
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