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The Following Information Is Available for Crystal Company Required:
Answer the Following Questions for Crystal Company:
A Jan

Question 68

Essay

The following information is available for Crystal Company:
 Jan. 1 Beginning inventory 15 units @$12.00 each  Jan. 9 Purchase 10 units @$16.00 each  Jan. 14 Sale 6 units  Jan. 20 Purchase 6 units @$18.00 each  Jan 26 Sale 9 mits \begin{array}{lll}\text { Jan. } 1 & \text { Beginning inventory } & 15 \text { units } @ \$ 12.00 \text { each } \\\text { Jan. } 9 & \text { Purchase } & 10 \text { units } @ \$ 16.00 \text { each } \\\text { Jan. } 14 & \text { Sale } & 6 \text { units } \\\text { Jan. } 20 & \text { Purchase } & 6 \text { units } @ \$ 18.00 \text { each } \\\text { Jan } 26 & \text { Sale } & 9 \text { mits }\end{array}
Required:
Answer the following questions for Crystal Company:
a. If FIFO is in use, what is the ending invent ory in doilars?
b. If periodic LIFO is in use, what is the cost of goods sold?
c. If moving average is in use, what is the ending inventory in dollars (round calculations to nearest cent)?
d. If weighted average is in use, what is the ending inventory in dollars (round unit cost to the nearest cent)

Correct Answer:

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