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PB 9. LO 10.3Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for B76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for first-in, first- out (FIFO). Beginning inventory Sold Purchased Sold Purchased Sold Ending inventory Number of Units 420 150 250 275 200 260 185 Unit Cost $200 205 215 Sales $401 421 441

PB 9. LO 10.3Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for B76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for first-in, first- out (FIFO). Beginning inventory Sold Purchased Sold Purchased Sold Ending inventory Number of Units 420 150 250 275 200 260 185 Unit Cost $200 205 215 Sales $401 421 441

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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PB 9. LO 10.3Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for B76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for first-in, first- out (FIFO). Beginning inventory Sold Purchased Sold Purchased Sold Ending inventory Number of Units 420 150 250 275 200 260 185 Unit Cost $200 205 215 Sales $401 421 441
Transcribed Image Text:PB 9. LO 10.3Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for B76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for first-in, first- out (FIFO). Beginning inventory Sold Purchased Sold Purchased Sold Ending inventory Number of Units 420 150 250 275 200 260 185 Unit Cost $200 205 215 Sales $401 421 441
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