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 Oct. 5 sold Total goods available for sale i Required: 1. Calculate the total goods available for sale (in units and cost). 130 units es 7.20 - $ 60 units @$15.70- 320 units @s 6.50 120 units @ $15.70 - 570 units @s 6.30- 520 units @s 6.20- 710 units @ $15.70 Units Number of units sold Number units remaining in ending inventory FIFO b Moving weighted average 2. Calculate the number of units sold and units remaining in ending inventory. Cost 936.00 942.00 2,080.00 1,884.00 3,591.00 3,224.00 11,147.00 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) Ending Inventory Cost of Goods Sold

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 Oct. 5 sold Total goods available for sale i Required: 1. Calculate the total goods available for sale (in units and cost). 130 units es 7.20 - $ 60 units @$15.70- 320 units @s 6.50 120 units @ $15.70 - 570 units @s 6.30- 520 units @s 6.20- 710 units @ $15.70 Units Number of units sold Number units remaining in ending inventory FIFO b Moving weighted average 2. Calculate the number of units sold and units remaining in ending inventory. Cost 936.00 942.00 2,080.00 1,884.00 3,591.00 3,224.00 11,147.00 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) Ending Inventory Cost of Goods Sold

Name: Car Armour sells car wash cleaners. Car Armour uses a perpetual Inven
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Description: Car Armour sells car wash cleaners. Car Armour uses a perpetual Inventory system and made purchases and sales of a particularproduct in 2023 as follows:Jan. 1 Beginning inventoryJan. 10 SoldMar. 7 PurchasedMar. 15 SoldJuly 28 Purchasedoct. 3 Purchas

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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