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During January, a Company That Uses a Perpetual Inventory System

Question 36

Essay

During January, a company that uses a perpetual inventory system had beginning inventory, purchases, and sales as follows: During January, a company that uses a perpetual inventory system had beginning inventory, purchases, and sales as follows: Prepare a schedule to show the cost of goods sold and ending inventory using theFIFO cost flow assumption. Prepare a schedule to show the cost of goods sold and ending inventory using theFIFO cost flow assumption.

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