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Prepare golf unlimited perpetual inventory record

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Reference no: EM132467829

DATE.             ITEM                  QUINTITY                 UNIT COST

NOV 1               1.BALANCE     24                         $53

                      6. SALE.          20

                  8. PURCHASE      30                           70

                    17 SALE         30

                      30 SALE        2

Question 1: Prepare Golf Unlimited's perpetual inventory record for the putters assuming Golf Unlimited uses the moving-weighted-average inventory costing method. Round the average unit cost to the nearest cent and all other amounts to the nearest dollar. Then identify the cost of ending inventory and cost of goods sold for the month.

Question 2: Journalize Golf Unlimited's inventory transactions using the moving-weighted-average inventory costing method. Include explanations. (Assume purchases and sales are made on account.)

Reference no: EM132467829

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