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Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2023 as follows: Jan. 1 Beginning inventory Jan. 10 Sold Mar. 7 Purchased Mar. 15 Sold. July 28 Purchased Oct. 3 Purchased i Oct. 5 Sold 130 units @$ 7.20 60 units @$15.70- 320 units @$ 6.50- 120 units @$15.70 570 units @$ 6.30- 520 units @s 6.20 710 units @$15.70 - Total goods available for sale Required: 1. Calculate the total goods available for sale (in units and cost). Units $ Cost 936.00 942.00 2,000.00 1,884.00 3,591.00 3,224.00 11,147,00 2. Calculate the number of units sold and units remaining in ending inventory.

Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2023 as follows: Jan. 1 Beginning inventory Jan. 10 Sold Mar. 7 Purchased Mar. 15 Sold. July 28 Purchased Oct. 3 Purchased i Oct. 5 Sold 130 units @$ 7.20 60 units @$15.70- 320 units @$ 6.50- 120 units @$15.70 570 units @$ 6.30- 520 units @s 6.20 710 units @$15.70 - Total goods available for sale Required: 1. Calculate the total goods available for sale (in units and cost). Units $ Cost 936.00 942.00 2,000.00 1,884.00 3,591.00 3,224.00 11,147,00 2. Calculate the number of units sold and units remaining in ending inventory.

FINANCIAL ACCOUNTING
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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2. Calculate the number of units sold and units remaining in ending Inventory. Number of units sold. Number units remaining in ending inventory 3. Determine the share of the cost of goods available for sale calculated in Part 1 that should be assigned to ending inventory and to goods sold under: (Do not round the intermediate calculations and round the final answers to nearest whole dollar.) a FIFO b Moving weighted average Ending Inventory Cost of Goods Sold < Prev 2 of 8 ⠀⠀ Next >
Transcribed Image Text:2. Calculate the number of units sold and units remaining in ending Inventory. Number of units sold. Number units remaining in ending inventory 3. Determine the share of the cost of goods available for sale calculated in Part 1 that should be assigned to ending inventory and to goods sold under: (Do not round the intermediate calculations and round the final answers to nearest whole dollar.) a FIFO b Moving weighted average Ending Inventory Cost of Goods Sold < Prev 2 of 8 ⠀⠀ Next >
Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2023 as follows: Jan. 1 Beginning inventory Jan. 10 Sold Mar. 7 Purchased Mar. 15 Sold July 28 Purchased Oct. 3 Purchased i Oct. 5 Sold Total goods available for sale 130 units @$ 7.20 S 936.00 60 units @$15.70- 320 units @$ 6.50- 120 units @$15.70- 570 units @$ 6.30- 520 units @ 6.20- 710 units @$15.70 Required: 1. Calculate the total goods available for sale (in units and cost). Munher of ite ent Units 942.00 2,000.00 1,884.00 3,591.00 3,224.00 11,147,00 Cost 2. Calculate the number of units sold and units remaining in ending inventory.
Transcribed Image Text:Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2023 as follows: Jan. 1 Beginning inventory Jan. 10 Sold Mar. 7 Purchased Mar. 15 Sold July 28 Purchased Oct. 3 Purchased i Oct. 5 Sold Total goods available for sale 130 units @$ 7.20 S 936.00 60 units @$15.70- 320 units @$ 6.50- 120 units @$15.70- 570 units @$ 6.30- 520 units @ 6.20- 710 units @$15.70 Required: 1. Calculate the total goods available for sale (in units and cost). Munher of ite ent Units 942.00 2,000.00 1,884.00 3,591.00 3,224.00 11,147,00 Cost 2. Calculate the number of units sold and units remaining in ending inventory.
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