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Unformatted text preview: (33%) QS 5-1: Inventory costing methods—perpetual system L.O. P1 A company reports the following beginning inventory and purchases for the the company sells 360 units. What is the cost of the 155 units that remain assuming costs are assigned based on a perpetual inventory system and weighted average? (Do not round unit costs. Round your answers to ne the "$" sign in your response.) Units Unit Cost Beginning inventory on January 1 320 $ Purchase on January 9 85 Purchase on January 25 110 FIFO $ 1014 LIFO $ 930 Weighted average $ 960...
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- Spring '10
- FIFO and LIFO, FIFO and LIFO accounting, FIFO LIFO Weighted, LIFO Weighted average