ABC Co. using perpetual Inventory system, has the following Information for the month of Jan Date Transaction Units Unit cost Jan 1 Beginning 20,000 12 Purchase 12,000 4.2 16 Purchase 20,000 4.4 20 Sales 25,000 25 Purchase 3,000 4.3
ABC Co. using perpetual Inventory system, has the following Information for the month of Jan Date Transaction Units Unit cost Jan 1 Beginning 20,000 12 Purchase 12,000 4.2 16 Purchase 20,000 4.4 20 Sales 25,000 25 Purchase 3,000 4.3
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter11: Work Sheet And Adjusting Entries
Section: Chapter Questions
Problem 3E: Basga Company uses the periodic inventory system. Beginning inventory amounted to 241,072. A...
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Assuming FIFO cost cash flow method is used, how much is the ending inventory and cost of sales, respectively?
A. 130,000 and 101,000
B. 101,000 and 130,000
C. 105,000 and 126,300
D. 126,300 and 105,000
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