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Dunbar Distribution markets CDs of numerous performing artists. At the beginning of March, Dunbar had in beginning inventory 2,500 CDs with a unit cost of $7. During March, Dunbar made the following purchases of CDs. March 5 2,000 @ $8 21-Mar 5,000 @ $10 13-Mar 3,500 @ $9 26-Mar 2,000 @ $11 During March 12,000 units were sold. Dunbar uses a periodic inventory system.
1. Determine the cost of goods available for sale.
2. Determine (1) the ending inventory and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). Prove the accuracy of the cost of goods sold under the FIFO and LIFO methods. (Note:For average-cost, round cost per unit to three decimal places.)
Distinguish between the various service organization controls (SOC) reporting options available to auditors who evaluate cloud computing service providers.
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you have just purchased and have obtained a 30-year 200000 mortgage with an interest rate of 10 percent. requireda.
Using the installment-sales method, make summary journal entries to record: (a) the installment sales and cash collections.
The periodic inventory system is used. Determine the inventory cost and the cost of merchandise sold by three methods, presenting your answers in the form
1. identify and discuss the controls for the sales and for the cash receipts. 2. identify and discuss some possible
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