Complete the following (assume $90,000 of overhead to be distributed): (RouSquare FeetAmount of OverheadAllocatedRatioDepartment A10,000Department B30,000 Marvin Company has a beginning inventory of 12 sets of paints at a cost of $1.50 each. During the year, the store purchased 4 sets at$1.60, 6 sets at $2.20, 6 sets at $2.50, and 10 sets at $3.00. By the end of the year, 25 sets were sold.a. Calculate the number of paint sets in ending inventory.Number of paint setsb. Calculate the cost of ending inventory under LIFO, FIFO, and the weighted average methods. (Round your answers to the nearestcent.)Cost of ending inventory under LIFOCost of ending inventory under FIFOCost of ending inventory under Weighted Average

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Description: Complete the following (assume $90,000 of overhead to be distributed): (RouSquare FeetAmount of OverheadAllocatedRatioDepartment A10,000Department B30,000 Marvin Company has a beginning inventory of 12 sets of paints at a cost of $1.50 each. During

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Answered: Complete the following (assume $90,000…

Business

Accounting

Complete the following (assume $90,000 of overhead to be distributed): (Rou Square Feet Amount of Overhead Allocated Ratio Department A 10,000 30,000 Department B

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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