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Calculate the cost of goods sold and ending inventory

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Question - The Snowboarding Company provided the following information for one of its top-sellings now boards:

Date Item Units Amount Sale

Nov. 1 Beginning inventory 26 $197

5 Sale (12) $340

12 Purchase 65 210

16 Sale (50) $355

19 Purchase 38 215

22 Sale (62) $370

26 Purchase 40 216

Required -

1. Calculate the cost of goods sold and ending inventory using FIFO.

2. Write the journal entries for November 12, 16, 22.

Reference no: EM132856643

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