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Dove Company's records contained the following data for the month ended 3/31/23: Beginning inventory Purchase 1 Sales Purchase 2 Purchase 3 Sales units 300 1,200 1,300 900 1,000 1,800 unit cost 5.00 6.00 15.00 6.50 7.00 15.00 Compute ending inventory and cost of goods sold for Dove Company using the average inventory costing method and the LIFO inventory costing method for a periodic and for a perpetual inventory system.

Dove Company's records contained the following data for the month ended 3/31/23: Beginning inventory Purchase 1 Sales Purchase 2 Purchase 3 Sales units 300 1,200 1,300 900 1,000 1,800 unit cost 5.00 6.00 15.00 6.50 7.00 15.00 Compute ending inventory and cost of goods sold for Dove Company using the average inventory costing method and the LIFO inventory costing method for a periodic and for a perpetual inventory system.

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 14RE: On January 1 of Year 1, Dorso Company adopted the dollar-value LIFO method of inventory costing....
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Dove Company's records contained the following data for the month ended 3/31/23: Beginning inventory Purchase 1 Sales Purchase 2 Purchase 3 Sales units 300 1,200 1,300 900 1,000 1,800 unit cost 5.00 6.00 15.00 6.50 7.00 15.00 Compute ending inventory and cost of goods sold for Dove Company using the average inventory costing method and the LIFO inventory costing method for a periodic and for a perpetual inventory system.
Transcribed Image Text:Dove Company's records contained the following data for the month ended 3/31/23: Beginning inventory Purchase 1 Sales Purchase 2 Purchase 3 Sales units 300 1,200 1,300 900 1,000 1,800 unit cost 5.00 6.00 15.00 6.50 7.00 15.00 Compute ending inventory and cost of goods sold for Dove Company using the average inventory costing method and the LIFO inventory costing method for a periodic and for a perpetual inventory system.
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