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FINANCIAL ACCOUNTING I
ASSIGNMENT V
Name: _________________________________ Due: ___________
Marks _______ /10
The Snowboarding Company provided the following information for one of its top-selling snowboards:
Date Item Units Amount Sale
Nov. 1 Beginning inventory 26 $197
5 Sale (12) $340
12 Purchase 65 210
16 Sale (50) $355
19 Purchase 38 215
22 Sale (62) $370
26 Purchase 40 216
Calculate the cost of goods sold and ending inventory using FIFO.
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