The periodicinventory records of Saxton Prosthetics indicate the following for the month of...
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Accounting
The periodicinventory records of Saxton Prosthetics indicate the following for the month of December 4. At December 31, Saxton counts seven units of inventory on hand. Compute ending merchandise inventory and cost of goods sold for Saxton using the FIFO inventory costing method. Data Table Dec. 1 Beginning merchandise inventory 10 units @ $40 each 8 Purchase 12 units @ $45 each 15 Purchase 15 units @ $45 each 26 Purchase 10 units @ $50 each FIFO Cost Ending Merchandise Inventory Cost of Goods Sold
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