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Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs...

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Accounting

Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 100 units at $60 per unit. During the year, Cortez made two batch purchases of this chair. The first was a 150-unit purchase at $68 per unit; the second was a 200-unit purchase at $72 per unit. During the period, it sold 270 chairs.
2 points
Required
Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Cortez uses:
a. FIFO.
b. LIFO.
c. Weighted average.
Complete this question by entering your answers in the tabs below.
Req A1
Req A2
Req B1
Req B2
Req C
Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Cortez uses Weighted average.
\table[[Cost of goods sold,units,@,=,$,0],[Ending inventory,units,@,=,$,0]]
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