Units Unit cost $ Total cost $ February 1 inventory 395 8. February 19 purchase 405 11 February 23 purchase 420 13 1,220
Units Unit cost $ Total cost $ February 1 inventory 395 8. February 19 purchase 405 11 February 23 purchase 420 13 1,220
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Baron Company uses a periodic inventory system. For February, when the company sold 630 units, the following information is available:(ATTACHED)
2. Compute the February 28 inventory and the February cost of goods sold using:
a) the average-cost method.
b) FIFO method.
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