Solution-Calculate Cost of Goods Sold and Ending Inventory

Calculate Cost of Goods Sold and Ending Inventory

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Reference no: EM132735568

Question - Inventory - As of 1 September 2016, TradeO, Inc. had a beginning inventory of 200 units at cost of $9 per unit. During September 2016, the following inventory transactions happened:

6 September: bought 300 units of merchandise, at $10 per unit

27 September: bought 350 units of merchandise, at $11 per unit

29 September: sold 650 units of merchandise at customer price of $25 per unit

Instructions -

(a) Calculate Cost of Goods Sold, Ending Inventory and Gross Profit using FIFO method!

(b) Calculate Cost of Goods Sold, Ending Inventory and Gross Profit using average method!

Reference no: EM132735568

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Calculate Cost of Goods Sold and Ending Inventory : As of 1 September 2016, TradeO, Inc. had a beginning inventory of 200 units at cost of $9 per unit. Calculate Cost of Goods Sold and Ending Inventory

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Calculate Cost of Goods Sold and Ending Inventory

Reference no: EM132735568

Reference no: EM132735568

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