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Business, 22.04.2020 03:10 gabriellaalvarez84

Ildhorse Company sells one product. Presented below is information for January for Wildhorse Company. Jan. 1 Inventory 118 units at $5 each 4 Sale 93 units at $8 each 11 Purchase 165 units at $6 each 13 Sale 136 units at $9 each 20 Purchase 163 units at $7 each 27 Sale 104 units at $11 each Wildhorse uses the FIFO cost flow assumption. All purchases and sales are on account. Assume Wildhorse uses a periodic system. Prepare all necessary journal entries, including the end-of-month closing entry to record cost of goods sold. A physical count indicates that the ending inventory for January is 113 units

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Ildhorse Company sells one product. Presented below is information for January for Wildhorse Company...
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