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Calculate cost of goods sold using average cost perpetual

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Reference no: EM132506836

The following information applies to the inventory of James Dixon Company and will be used for four questions on the exam:

                                                 Units                      Cost/unit

February 1 Inventory on hand 400                        $8

February 4 Purchase                800                  11

February 6 Sale                       1,000

February 16 Purchase             1,300                   16

February 19 Sale                      1,400

February 25 Purchase                  700               20

  • The company only has one product.
  • Round $/unit values to four decimals where necessary

Question 1: Calculate cost of goods sold using the average cost perpetual method for the month of February.

Reference no: EM132506836

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