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017-10-31,4 PM Problem 2 A company sells a single product and had the following beginning...

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Accounting

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017-10-31,4 PM Problem 2 A company sells a single product and had the following beginning inventory, purchases, and sales during March. Number of units Price per unit Beginning Imentory March 20 40 50 45 35 25 S6 $8 $7 $12 S12 $9 6 Purchase 8 Purchase 10 Sa 12 Sale 30 Purchase Calculate the cost of goods sold and the value of ending inventory under each assumption below: (1) The company uses the FIFO method 2) The company uses the weighted average basis. (Round average cost per unit to 2 decimals.)

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