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BMCC 2nd Exam Financial Accounting (FIFO, LIFO, Weighted Average); Questions and Answers 100% Solved

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BMCC 2nd Exam Financial Accounting (FIFO, LIFO, Weighted Average); Questions and Answers 100% Solved Problem: July 1 Beginning merch Inventory 18 units @55 each July 8 15 units @ 60 each July 15 12 units @ 61 each July 26 11 units @ 62 each At July 31, Cambridge counts 20 units of merchandise inventory on hand. pg. 356 chapter 6 Correct answer 1. FIFO method for problem At July 31, Cambridge counts 20 units of merchandise inventory on hand. Correct answer Step 1: July 1 18 units @55= $990 July 8 15 units @60= $900 July 15 12 units @61= $732 July 26 11 units @62= $682

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  • bmcc 2nd exam financial accounting
  • fifo lifo weighted average
  • questions and answers 100 solved
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