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ABC Company employs a periodic inventory system and sells its inventory to customers for $20 per unit. ABC Company had the following inventory information available for the month of May:
May 1 Beginning inventory 2,000 units @ $12 cost per unit
May 8 Sold 600 units
May 13 Purchased 1,400 units @ $10 cost per unit
May 18 Sold 800 units
May 19 Sold 300 units
May 21 Purchased 1,700 units @ $18 cost per unit
May 28 Purchased 1,400 units @ $16 cost per unit
May 30 Sold 900 units
During May, ABC Company reported operating expenses of $3,000 and had an income tax rate of 35%.
Calculate the amount of net income reported on ABC Company's income statement for May using the weighted average method. Do not use decimals in your answer.
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Bossie, Inc. had 950,000 shares of common stock, 10,000 shares of 6%, $100 par, cumulative preferred stock, and 10,000 shares of 8%, $100 par, noncumulative preferred stock outstanding at the end of 2013 and 2014. No dividends were declared or paid o..
Much money on sheet music as she did on cds. the total amount she spent fot the sheet , music and cds was one third of her monthly budget of $189. Explain how much money did mrs. perrin spend on sheet music?
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