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Write a memo explaining why the party store

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Reference no: EM13930528

The Party Store had the following series of transactions for 2013:

1040_264-B-M-A-I (1871).png

Required: 

a. Determine the quantity and dollar amount of inventory at the end of the year, assuming The Party Store uses the FIFO cost flow assumption and keeps perpetual records. 

b. Write a memo explaining why The Party Store, would have difficulty applying the weighted average method on a perpetual basis.

Reference no: EM13930528

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