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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339 Exercise 39
Computing periodic inventory amounts
The periodic inventory records of Synergy Prosthetics indicate the following at July 31:
At July 31, Synergy counts two units of inventory on hand.
Requirement
1. Compute ending inventory and cost of goods sold, using each of the following methods:
a. Average cost (round average unit cost to the nearest cent)
b. First-in, first-out
c. Last-in, first-out
The periodic inventory records of Synergy Prosthetics indicate the following at July 31:
At July 31, Synergy counts two units of inventory on hand.
Requirement
1. Compute ending inventory and cost of goods sold, using each of the following methods:
a. Average cost (round average unit cost to the nearest cent)
b. First-in, first-out
c. Last-in, first-out
Explanation
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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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