Inventory by Three Methods; Cost of Goods Sold The units of an item available for sale during the year were as follows: Jan. 1 Inventory 20 units at $1,800 each June 9 Purchase 29 units at $1,950 each July 28 Purchase 13 units at $2,040 each Nov. 1 Purchase 17 units at $2,100 each There are 18 units of the item in the physical inventory at December 31. Determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form: Round your final answers to the nearest dollar. Inventory Method a. First-in, first-out method b. Last-in, first-out method c. Weighted average Ending Inventory DU Cost Cost of Goods Sold

Inventory by Three Methods; Cost of Goods Sold The units of an item available for sale during the year were as follows: Jan. 1 Inventory 20 units at $1,800 each June 9 Purchase 29 units at $1,950 each July 28 Purchase 13 units at $2,040 each Nov. 1 Purchase 17 units at $2,100 each There are 18 units of the item in the physical inventory at December 31. Determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form: Round your final answers to the nearest dollar. Inventory Method a. First-in, first-out method b. Last-in, first-out method c. Weighted average Ending Inventory DU Cost Cost of Goods Sold

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Description: Inventory by Three Methods; Cost of Goods SoldThe units of an item available for sale during the year were as follows:Jan. 1Inventory20 units at $1,800 eachJune 9Purchase29 units at $1,950 eachJuly 2813 units at $2,040 eachNov. 117 units at $2,100 e

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 4PA: Calculate the cost of goods sold dollar value for A74 Company for the sale on March 11, considering...

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