Find cost of goods sold-value of ending inventory

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Reference no: EM13794867

Troy Baker Inc. reported these transactions during July. Beginning inventory was 1,000 units all at $50/unit.

July 2: sold 200 units for $100/unit

July 7: Purchased 500 units at $60/unit

July 16: Purchased 600 units at $80/unit

July 24: Sold 1,400 units for $120/unit

1. Find: Cost of goods sold, Value of ending inventory, and Gross profit if Troy Baker uses FIFO and a personal inventory system.

2. Find: Cost of goods sold, Value of ending inventory, and Gross Profit if Troy Baker uses the moving (weighted) average method and a perpetual inventory system.

Reference no: EM13794867

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