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Calculate the weighted-average cost

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You have the following information for Indigo Corporation for the month ended October 31, 2017. Indigo Corporation uses a periodic method for inventory.

Date Description Units Unit cost or selling price

Oct. 1 Beginning inventory 63 $23

Oct. 9 Purchase 124 25

Oct. 11 Sale 102 34

Oct. 17 Purchase 108 26

Oct. 22 Sale 58 39

Oct. 25 Purchase 72 28

Oct. 29 Sale 102 39

Question 1: Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.)

Question 2: Calculate ending inventory, cost of goods sold, gross profit under each of the following methods.

(1) LIFO.

(2) FIFO.

(3) Average-cost. (Round answers to 0 decimal place, e.g. 125.)

Reference no: EM132586368

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