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Below is the Inventory purchases of Carrigan Corrugated Company. Beginning balance January 1st purchase January 8th purchase January 17th purchase January 27th purchase January 31st purchase Units 173 257 300 287 164 139 Cost per Unit $ 1.25 $ 1.15 $ 0.95 $ 1.10 $ 1.30 $ 1.35 LA

Below is the Inventory purchases of Carrigan Corrugated Company. Beginning balance January 1st purchase January 8th purchase January 17th purchase January 27th purchase January 31st purchase Units 173 257 300 287 164 139 Cost per Unit $ 1.25 $ 1.15 $ 0.95 $ 1.10 $ 1.30 $ 1.35 LA

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 3RE: Reid Company uses the periodic inventory system. On January 1, it had an inventory balance of...
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Below is the Inventory purchases of Carrigan Corrugated Company. Beginning balance January 1st purchase January 8th purchase January 17th purchase January 27th purchase January 31st purchase Units 173 257 300 287 164 139 Cost per Unit $ 1.25 $ 1.15 $ 0.95 $ 1.10 $ 1.30 1.35 tA $ At the end of January, a physical inventory revealed that 1,205 units were sold and the remainder were left as ending inventory. Calculate the Cost of Goods Sold and the ending Inventory balance using the FIFO method. (round all answers using two (2) decimal places)
Transcribed Image Text:Below is the Inventory purchases of Carrigan Corrugated Company. Beginning balance January 1st purchase January 8th purchase January 17th purchase January 27th purchase January 31st purchase Units 173 257 300 287 164 139 Cost per Unit $ 1.25 $ 1.15 $ 0.95 $ 1.10 $ 1.30 1.35 tA $ At the end of January, a physical inventory revealed that 1,205 units were sold and the remainder were left as ending inventory. Calculate the Cost of Goods Sold and the ending Inventory balance using the FIFO method. (round all answers using two (2) decimal places)
Below is the Inventory purchases of Carrigan Corrugated Company. Beginning balance January 1st purchase January 8th purchase January 17th purchase January 27th purchase January 31st purchase Units 173 257 300 287 164 139 Cost per Unit $ 1.25 $ 1.15 $ 0.95 $ 1.10 1.30 1.35 $ $ At the end of January, a physical inventory revealed that 1,205 units were sold and the remainder were left as ending inventory. Calculate the Cost of Goods Sold and the ending Inventory balance using the Weighted Average method. (round all answers using two (2) decimal places)
Transcribed Image Text:Below is the Inventory purchases of Carrigan Corrugated Company. Beginning balance January 1st purchase January 8th purchase January 17th purchase January 27th purchase January 31st purchase Units 173 257 300 287 164 139 Cost per Unit $ 1.25 $ 1.15 $ 0.95 $ 1.10 1.30 1.35 $ $ At the end of January, a physical inventory revealed that 1,205 units were sold and the remainder were left as ending inventory. Calculate the Cost of Goods Sold and the ending Inventory balance using the Weighted Average method. (round all answers using two (2) decimal places)
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