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# During 2015 a company sells 20 units of inventory The company has the following

During 2015, a company sells 20 units of inventory. The company has the following inventory purchase transactions for 2015:

 Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 15 \$60 \$   900 Sep. 8 Purchase 10 62 620 25 \$1,520

Calculate ending inventory and cost of goods sold for 2015 assuming the company uses weighted-average cost with a periodic inventory system.

142. During 2015, a company sells 300 units of inventory for \$85 each. The company has the following inventory purchase transactions for 2015:

 Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 60 \$71 \$  4,260 May 5 Purchase 170 72 12,240 Nov. 3 Purchase 180 74 13,320 410 \$29,820

Calculate ending inventory and cost of goods sold for 2015 assuming the company uses FIFO with a periodic inventory system.

Feb 01 2020 View more View Less