Ava Inc. had the following transactions on its inventory during 2021. Ava uses perpetual inventory system. Avastarted the year with 300 units of inventory at a cost of $19.DateUnit PurchasesPrice per unitUnit SalesSelling PriceMarch500$20April650$21June800$30AugustSeptemberNovember200$32700$22550$33Required:a. Calculate the total cost of goods sold for the year 2021 using perpetual moving average.b. Calculate ending inventory using perpetual moving average.

Name: Ava Inc. had the following transactions on its inventory during 2021.
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Description: Ava Inc. had the following transactions on its inventory during 2021. Ava uses perpetual inventory system. Avastarted the year with 300 units of inventory at a cost of $19.DateUnit PurchasesPrice per unitUnit SalesSelling PriceMarch500$20April650$21

The question is based on the concept of Cost Accounting. Perpetual moving average is one of the…

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Ava Inc. had the following transactions on its inventory during 2021. Ava uses perpetual inventory system. Ava started the year with 300 units of inventory at a cost of $19. Date Unit Purchases Price per unit Unit Sales Selling March 500 $20 April 650 $21 June 800 $30 August September 200 $32 700 $22 November 550 $33 Required:

Ava Inc. had the following transactions on its inventory during 2021. Ava uses perpetual inventory system. Ava started the year with 300 units of inventory at a cost of $19. Date Unit Purchases Price per unit Unit Sales Selling March 500 $20 April 650 $21 June 800 $30 August September 200 $32 700 $22 November 550 $33 Required:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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