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Prepare a perpetual inventory record for Fossil

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Reference no: EM132544234

Question - Fossil specializes in designer watches and leather goods. Assume Fossil began June holding 10 wristwatches that cost $50 each. During J1me, Fossil bought and sold inventory as follows:

Jun 3 Sold 8 units for $100 each

Jun 16 Purchased 10 units @ $56 each

Jun 23 Sold 8 units for $100 each

Requirements - Prepare a perpetual inventory record for Fossil using FIFO, LIFO, and Average cost.

Reference no: EM132544234

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