Solution-Calculate the November inventory

Calculate the November inventory

Reference no: EM133071254

Question - Canal Corporation uses a perpetual inventory system .On November 19, the company sold 600 units. The following additional information is available.

	Units	Unit cost	Total cost
Nov 1 inventory	250	$12	$3,000
Nov 15 purchase	400	$14	$5,600
Nov 23 purchase	350	$15	$5,250
	1,000		$13,850

Required - Calculate the November 30 inventory and the November cost of goods sold, using: a) The moving -average cost formula (round per- unit cost to two decimal places) and b) The FIFO cost formula.

Reference no: EM133071254

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Calculate the November inventory

Reference no: EM133071254

Reference no: EM133071254

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Accounting Basics Questions & Answers

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