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question the following data are available for one of the products sold by zinnia com 4290212

Question

The following data are available for one of the products sold by Zinnia Company, which uses a perpetual inventory system Oct. 1 6 11 16 26 Beginning inventory, 600 units at $1.50 each Purchased 2,000 units at $2.00 each Sold 2,100 units Purchased 1,900 units at $2.50 each Sold 2,000 units 1. Calculate cost of goods sold for October and the dollar amount of ending inventory on October 31 assuming FIFO is used. 2. Calculate cost of goods sold for October and the dollar amount of ending inventory on October 31 assuming LIFO is used. 3. Calculate cost of goods sold for October and the dollar amount of ending inventory on October 31 assuming average cost is used.

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