Calculate the cost goods sold and ending inventory, Accounting Basics

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Calculate the cost goods sold and ending inventory

A company made the following purchases during the year:

Jan 10: 15 units @ 360 each
Mar 25: 25 units @390 each
April 25: 10 units @ 420 each
July 30: 20 units @ 450 each
Oct 10: 15 units @ 480 each

On December 31, there were 28 units in ending inventory. These 28 units consisted of 1 from the January 10 shipment, 2 from the March 15 shipment, 5 from the April 25 shipment, 15 from the July 30 purchase, and 5 from the October 10 purchase. Using specific identification, calculate the cost goods sold and ending inventory for the year.

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Accounting Basics: Calculate the cost goods sold and ending inventory

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Accounting Basics: Calculate the cost goods sold and ending inventory

Reference No:- TGS0686075

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Recent Questions Asked Accounting Basics

Q : Calculate the units of product wz in june

Q : What impact would this change make

Q : Demonstrate that the ground state wave function

Q : How produces a single product had a net operating income

Q : Calculate the cost goods sold and ending inventory

Q : What would the cost of goods sold and ending inventory

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Calculate the cost goods sold and ending inventory

Reference No:- TGS0686075

Recent Questions Asked Accounting Basics

Q : Calculate the units of product wz in june

Q : What impact would this change make

Q : Demonstrate that the ground state wave function

Q : How produces a single product had a net operating income

Q : Calculate the cost goods sold and ending inventory

Q : What would the cost of goods sold and ending inventory

Q : Calculate the amounts to be reported on each employee

Q : Prepare a differential analysis as of september

Q : Trade or business expenditures

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