The records of Cordova Corp, showed the following transactions, in the order given, relating to the major inventory item. Units Unit Cost 3,200 $ 9.40 6,400 9.70 4,300 5,400 10.00 9,600 1. Inventory 2. Purchase 3. Sale (at $20.00) 4. Purchase 5. Sale (at $28.00) 6. Purchase 7. Sale (at $23.00) 8. Purchase 11,600 10.16 9,600 6,400 10.30 Required: Complete the following schedule for each independent assumption. (Round unit costs to the nearest cent.) Independent Assumptions a FIFO b Moving average perpetual inventory system Ending Inventory Units and Amounts Cost of Goods Sold Gross Margin

The records of Cordova Corp, showed the following transactions, in the order given, relating to the major inventory item. Units Unit Cost 3,200 $ 9.40 6,400 9.70 4,300 5,400 10.00 9,600 1. Inventory 2. Purchase 3. Sale (at $20.00) 4. Purchase 5. Sale (at $28.00) 6. Purchase 7. Sale (at $23.00) 8. Purchase 11,600 10.16 9,600 6,400 10.30 Required: Complete the following schedule for each independent assumption. (Round unit costs to the nearest cent.) Independent Assumptions a FIFO b Moving average perpetual inventory system Ending Inventory Units and Amounts Cost of Goods Sold Gross Margin

Name: Gg.149. The records of Cordova Corp, showed the following transactions
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Description: Gg.149. The records of Cordova Corp, showed the following transactions, in the order given, relating to the major inventory item.Units Unit Cost3,200 $ 9.406,400 9.704,3005,400 10.009,6001. InventoryPurchase3. Sale (at $20.00)4. Purchase5. Sale (at $

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 11PA: Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company,...

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