Assume the following data for smooth sailing co for, Ask an Expert

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Assume the following data for Smooth Sailing Co. for November 2010:

Beginning inventory Nov. 1 8 units at $40 each

Sale Nov. 3 5 units at $130 each

Nov. 6 purchase 12 units at $44 each

Sale Nov. 8 7 units at $135 each

Sale Nov. 9 3 units at $135 each

Required:

Calculate ending inventory and Cost of Goods Sold for Smooth Sailing Co. assuming the moving weighted-average cost method is being used.

Received Sold Balance

Date Qty. Cost Amt. Qty. Cost Amt. Qty. Cost Amt.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91969771

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