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Shellhammer Company's inventory records show the following data for the month of September: Inventory, September 1 Purchases: September 8 September 18 Ending inventory Units Cost of goods sold 100 450 350 Unit Cost $3.34 3.50 A physical inventory on September 30 shows 200 units on hand. Calculate the value of the ending inventory and cost of goods sold if the company uses weighted average inventory costing and a periodic inventory system. (Round cost per unit to 2 decimal places, eg. 15.25 and ending inventory and cost of goods sold to the neares Mollar, e.g. 5,275) 3.70

Shellhammer Company's inventory records show the following data for the month of September: Inventory, September 1 Purchases: September 8 September 18 Ending inventory Units Cost of goods sold 100 450 350 Unit Cost $3.34 3.50 A physical inventory on September 30 shows 200 units on hand. Calculate the value of the ending inventory and cost of goods sold if the company uses weighted average inventory costing and a periodic inventory system. (Round cost per unit to 2 decimal places, eg. 15.25 and ending inventory and cost of goods sold to the neares Mollar, e.g. 5,275) 3.70

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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Shellhammer Company's inventory records show the following data for the month of September: Inventory, September 1 Purchases: September 8 September 18 Ending inventory Cost of goods sold Units $ 100 450 350 A physical inventory on September 30 shows 200 units on hand. Calculate the value of the ending inventory and cost of goods sold if the company uses weighted average inventory costing and a periodic inventory system. (Round cost per unit to 2 decimal places, e.g. 15.25 and ending inventory and cost of goods sold to the neares dollar, eg. 5,275) Unit Cost $3.34 3.50 3.70
Transcribed Image Text:Shellhammer Company's inventory records show the following data for the month of September: Inventory, September 1 Purchases: September 8 September 18 Ending inventory Cost of goods sold Units $ 100 450 350 A physical inventory on September 30 shows 200 units on hand. Calculate the value of the ending inventory and cost of goods sold if the company uses weighted average inventory costing and a periodic inventory system. (Round cost per unit to 2 decimal places, e.g. 15.25 and ending inventory and cost of goods sold to the neares dollar, eg. 5,275) Unit Cost $3.34 3.50 3.70
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