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Information on Inventory ABC are as follows: May 1 -Beg balance 1,400 units at P24 May 4 -Sales 400 units May 8 - Purchase 800 units at P35 May 15 - Sales 900 units May 22 - Purchase 700 units at P30 May 27 - Sale 600 units   How much is the ending inventory and cost of sales under the moving average method?   a. 26,880; 54,120 b. 26,880; 55720 c. 29,377; 53,223 d. 29,800; 52,800

Information on Inventory ABC are as follows: May 1 -Beg balance 1,400 units at P24 May 4 -Sales 400 units May 8 - Purchase 800 units at P35 May 15 - Sales 900 units May 22 - Purchase 700 units at P30 May 27 - Sale 600 units   How much is the ending inventory and cost of sales under the moving average method?   a. 26,880; 54,120 b. 26,880; 55720 c. 29,377; 53,223 d. 29,800; 52,800

Corporate Financial Accounting
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter6: Inventories
Section: Chapter Questions
Problem 6.3BE: Perpetual inventory using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as...
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Information on Inventory ABC are as follows:

May 1 -Beg balance 1,400 units at P24

May 4 -Sales 400 units

May 8 - Purchase 800 units at P35

May 15 - Sales 900 units

May 22 - Purchase 700 units at P30

May 27 - Sale 600 units

 

How much is the ending inventory and cost of sales under the moving average method?

 

a. 26,880; 54,120

b. 26,880; 55720

c. 29,377; 53,223

d. 29,800; 52,800

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