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E7.9 (LO 3) Excel (Periodic versus Perpetual Entries) Fong Sai-Yuk Company sells one product. Presented below is information for January for Fong Sai-Yuk Company. Jan. 100 units at $5 each 4 1 Inventory Sale Purchase 11 80 units at $8 each 150 units at $6 each 120 units at $8.75 each 13 Sale 20 Purchase 160 units at $7 each 27 Sale 100 units at $9 each Fong Sai-Yuk uses the FIFO cost flow assumption. All purchases and sales are on account.

E7.9 (LO 3) Excel (Periodic versus Perpetual Entries) Fong Sai-Yuk Company sells one product. Presented below is information for January for Fong Sai-Yuk Company. Jan. 100 units at $5 each 4 1 Inventory Sale Purchase 11 80 units at $8 each 150 units at $6 each 120 units at $8.75 each 13 Sale 20 Purchase 160 units at $7 each 27 Sale 100 units at $9 each Fong Sai-Yuk uses the FIFO cost flow assumption. All purchases and sales are on account.

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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Instructions: Calculate perpetual moving average

E7.9 (LO 3) Excel (Periodic versus Perpetual Entries) Fong Sai-Yuk Company sells one product. Presented below is information for January for Fong Sai-Yuk Company. Jan. 1 100 units at $5 each 4 80 units at $8 each Inventory Sale Purchase Sale Purchase 150 units at $6 each 120 units at $8.75 each 160 units at $7 each Sale 100 units at $9 each Fong Sai-Yuk uses the FIFO cost flow assumption. All purchases and sales are on account. 11 13 20 27
Transcribed Image Text:E7.9 (LO 3) Excel (Periodic versus Perpetual Entries) Fong Sai-Yuk Company sells one product. Presented below is information for January for Fong Sai-Yuk Company. Jan. 1 100 units at $5 each 4 80 units at $8 each Inventory Sale Purchase Sale Purchase 150 units at $6 each 120 units at $8.75 each 160 units at $7 each Sale 100 units at $9 each Fong Sai-Yuk uses the FIFO cost flow assumption. All purchases and sales are on account. 11 13 20 27
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