nkt.4 Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales ofproduct in 2023 as follows:Jan. 1 Beginning inventory 120 units @$ 6.20 = $ 744.00Jan. 10 SoldMar. 7 PurchasedMar. 15 SoldJuly 28 PurchasedOct. 3 PurchasedOct. 5 Sold70 units @ $14.70 =220 units @$ 5.50 =125 units @ $14.70 =470 units @ $ 5.30 =430 units @$ 5.20 =510 units @ $14.70 = 7,497.00Assume that Car Armour specifically sold the following units:Jan. 10: 70 units from beginning inventoryMar. 15: 25 units from beginning inventory, and100 units from the March 7 purchaseOct. 5: 80 units from the July 28 purchase, and430 units from the October 3 purchase1,029.001,210.001,837.502,491.002,236.00Calculate cost to be assigned to ending inventory and cost of goods sold. (Round your final answers to 2 decimal places.)Ending inventoryCost of goods sold$ 2,882.00

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Description: nkt.4 Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales ofproduct in 2023 as follows:Jan. 1 Beginning inventory 120 units @$ 6.20 = $ 744.00Jan. 10 SoldMar. 7 PurchasedMar. 15 SoldJuly 28 Pu

The value of items that are available for purchase at the conclusion of an accounting period is…

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Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of product in 2023 as follows: Jan. 1 Beginning inventory Jan. 10 Sold Mar. 7 Purchased Mar. 15 Sold July 28 Purchased Oct. 3 Purchased Oct. 5 Sold Assume that Car Armour specifically sold the following units: 120 units @$ 6.20 = $ 744.00 70 units @ $14.70 = 1,029.00 220 units @ $5.50 = 1,210.00 125 units @$14.70 = 1,837.50 470 units @ $ 5.30 = 2,491.00 430 units @$ 5.20 = 2,236.00 510 units @ $14.70 = 7,497.00 Jan. 10: 70 units from beginning inventory Mar. 15: 25 units from beginning inventory, and 100 units from the March 7 purchase Oct. 5: 80 units from the July 28 purchase, and 430 units from the October 3 purchase. Calculate cost to be assigned to ending inventory and cost of goods sold. (Round your final answers to 2 decimal places.) Ending inventory Cost of goods sold $ 2,882.00

Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of product in 2023 as follows: Jan. 1 Beginning inventory Jan. 10 Sold Mar. 7 Purchased Mar. 15 Sold July 28 Purchased Oct. 3 Purchased Oct. 5 Sold Assume that Car Armour specifically sold the following units: 120 units @$ 6.20 = $ 744.00 70 units @ $14.70 = 1,029.00 220 units @ $5.50 = 1,210.00 125 units @$14.70 = 1,837.50 470 units @ $ 5.30 = 2,491.00 430 units @$ 5.20 = 2,236.00 510 units @ $14.70 = 7,497.00 Jan. 10: 70 units from beginning inventory Mar. 15: 25 units from beginning inventory, and 100 units from the March 7 purchase Oct. 5: 80 units from the July 28 purchase, and 430 units from the October 3 purchase. Calculate cost to be assigned to ending inventory and cost of goods sold. (Round your final answers to 2 decimal places.) Ending inventory Cost of goods sold $ 2,882.00

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 11RE: Jessie Stores uses the periodic system of calculating inventory. The following information is...

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