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Date Apr. 1 (a) 6 9 14 20 28 Explanation Beginning inventory Purchases Sales Purchases Sales Purchases Cost of goods sold Cost of ending inventory Units $ 50 35 (55) 40 (50) 30 Unit Cost/Price: $216 241 355 245 361 250 Total Cost $10,800 8,435 Determine the cost of goods sold and cost of ending inventory using average cost. (Round answers to 2 decimal places, e.g. 5,275.25.) 9,800 7,500

Date Apr. 1 (a) 6 9 14 20 28 Explanation Beginning inventory Purchases Sales Purchases Sales Purchases Cost of goods sold Cost of ending inventory Units $ 50 35 (55) 40 (50) 30 Unit Cost/Price: $216 241 355 245 361 250 Total Cost $10,800 8,435 Determine the cost of goods sold and cost of ending inventory using average cost. (Round answers to 2 decimal places, e.g. 5,275.25.) 9,800 7,500

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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Date Apr. 1 (a) 6 9 14 20 28 Explanation Beginning inventory Purchases Sales Purchases Sales Purchases Cost of goods sold Cost of ending inventory $ Units Unit Cost/Price 50 35 $ (55) 40 (50) 30 $216 241 355 245 361 250 Total Cost $10,800 Determine the cost of goods sold and cost of ending inventory using average cost. (Round answers to 2 decimal places, e.g. 5,275.25.) 8,435 9,800 7,500
Transcribed Image Text:Date Apr. 1 (a) 6 9 14 20 28 Explanation Beginning inventory Purchases Sales Purchases Sales Purchases Cost of goods sold Cost of ending inventory $ Units Unit Cost/Price 50 35 $ (55) 40 (50) 30 $216 241 355 245 361 250 Total Cost $10,800 Determine the cost of goods sold and cost of ending inventory using average cost. (Round answers to 2 decimal places, e.g. 5,275.25.) 8,435 9,800 7,500
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