What is the amount of inventory on March 31 using the moving average cost flow technique? During March 2021, Ginebra Company provided the below data regarding its inventory for purposes: Units Unit Cost Total Cost Mar. 1 Beginning 6 Purchase 16,500 140 2,310,000.00 4,200 150 630,000.00 11 Sale 15,100 160 3,680,000.00 192,000.00 16 Purchase 23,000 17 Purchase return 1,200 160 26 Sale 7,800 29 Sales return 4,800 31 Purchase 33,000 150 4,950,000.00 O P7,982,028.99 O P8,785,582.57 O P8,776,128.33 O P8,764,381.04

What is the amount of inventory on March 31 using the moving average cost flow technique? During March 2021, Ginebra Company provided the below data regarding its inventory for purposes: Units Unit Cost Total Cost Mar. 1 Beginning 6 Purchase 16,500 140 2,310,000.00 4,200 150 630,000.00 11 Sale 15,100 160 3,680,000.00 192,000.00 16 Purchase 23,000 17 Purchase return 1,200 160 26 Sale 7,800 29 Sales return 4,800 31 Purchase 33,000 150 4,950,000.00 O P7,982,028.99 O P8,785,582.57 O P8,776,128.33 O P8,764,381.04

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 6MCQ: Refer to the information for Morgan Inc. above. If Morgan uses a perpetual inventory system, what is...

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