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In: Accounting

Beginning inventory, purchases, and sales data for product A are as follows: Sept 1                        Inventory    &nbs

  1. Beginning inventory, purchases, and sales data for product A are as follows:

Sept 1                        Inventory      240 units at $70

Sept 10                      Sale                180 units

Sept 15                      Purchase       280 units at $72

Sept 20                      Sale                220 units

Sept 24                      Sale                90 units

Sept 30                      Purchase       300 units at $75

Determine the number of units sold and the cost of units sold AND the quantity remaining in ending inventory and the cost of ending inventory. All units were sold for $100 each, determine gross profit. (Hint: Sales less COGS = Gross Profit).

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Expert Solution

ekkarill92 answered 1 year ago
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