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In: Accounting
Question 1) Huang provides the following information relating to its July inventory activity. Huang uses a...
Question 1) Huang provides the following information relating to its July inventory activity. Huang uses a perpetual inventory system.
|
Date |
Transaction |
Units |
Unit Cost |
Total Cost |
|
1st |
Inventory |
13 |
$8 |
$104 |
|
7th |
Purchase |
22 |
$9.50 |
$209 |
|
12th |
Sale |
20 |
||
|
18th |
Purchase |
10 |
$10.25 |
$102.50 |
|
20th |
Sale |
14 |
||
|
26th |
Purchase |
16 |
$11 |
176 |
|
30th |
Sale |
15 |
- Calculate the ending inventory and cost of sales using the FIFO, LIFO & moving average costing method. Round dollar amounts to the nearest cent.
Solutions
Expert Solution
The answer has been presented in the supporting sheet. All the parts has been solved with detailed explanation and format. For detailed answer refer to the supporting sheet.
ekkarill92 answered 2 years agoRelated Solutions
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