Compute the cost of goods sold for the year

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Question - Cox Company had the following information for the year ending December 31:

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Units

Unit Cost

Beginning inventory

340

$35

Purchase: April 6

280

$40

Sale: May 4

580

 

Purchase: July 19

470

$44

Sale: September 9

250

 

Purchase: October 10

100

$45

Cox uses the perpetual inventory system and the FIFO method.

Required -

(a) Compute the cost of ending inventory.

(b) Compute the cost of goods sold for the year.

Reference no: EM132618970

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