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Prepare a schedule to show the cost of goods sold

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During January, a company that uses a perpetual inventory system had beginning inventory, purchases, and sales as follows:

                                 Units            Cost per unit
Beginning inventory         $15
Jan-05 sale                      50
10 purchase                         70         $13
15 sale                                25
25 sale                                 14

Question 1: Prepare a schedule to show the cost of goods sold and ending inventory using the FIFO cost flow assumption.

Reference no: EM132539723

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