Remaining Time: 1 hour, 55 Question Completion Status: QUESTION 24 Toto Company uses the periodic...
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Accounting
Remaining Time: 1 hour, 55 Question Completion Status: QUESTION 24 Toto Company uses the periodic inventory system to account for inventories. Information related to Toso Company's inventory at October 31 is given below: October 1 Beginning inventory 400 units 510.00 - $ 4,000 8 Purchase 800 units @ $10.40 - 8,320 16 Purchase 600 units 510.80 - 6,450 24 Purchase 200 units @ $11.60 - 2320 Total units and cost 2.000 units $21.120 Sales during the month are 1450 Units. Instructions 1. Show computations to value the ending inventory and cost of Goods Sold using the weighted average cost assumption 2. Show computations to value the ending inventory and Cost of Goods Sold using the FIFO cost method. TT TT Paragraph 3 (121) E.E.T. %DOQO T' T. O fx Mashups 6 Arial
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