compute inventory and cost of goods sold using three cost flow methods in a perpetual...
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Accounting
compute inventory and cost of goods sold using three cost flow methods in a perpetual inventory system
Inventory: March 1 200 units @ $4.00 $8.00
Purchases:
March 10 500 units @ $4.50 $2,250
March 20 400 units @ $4.75 $1,900
March 30 300 units @ $5.00 1,500
Sales:
March 15 500 units
March 25 400 units
The physical inventory count on March 31 shows 500 units on hand at March 31 and the cost of goods sold for March under (a) FIFO, (b) LIFO, and (c) moving-average cost
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