Fall 2011 - term test #2.doc - solutions(2)

Inv 250000 195000 575000 314000 128 183 365

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Unformatted text preview: vg. Inv. $250,000 $195,000 $575,000 $314,000 1.28 1.83 365 days 1.28 365 days 1.83 = Days Says In Inventory = = 285 days = 199 days Reasonable conclusion that Company B has a better inventory management system. Part C (10 marks) Calculate: Cost of goods sold assuming Pacioli uses FIFO Ending inventory assuming Pacioli uses FIFO Cost of goods sold assuming Pacioli uses average cost Perpetual inventory system $618 = $60 +$264 +$126 +(35*$4.80) (1 points) Periodic inventory system $618 = $60 +$264...
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