Beginning inventory, purchases, and sales for Product XCX are as follows: Sept. 1 Beginning Inventory 26 units @ $13 5 Sale 12 units 17 Purchase 23 units @ $16 30 Sale 15 units Assuming a perpetual inventory system and the last-in, first-out method, determine (a) the cost of the merchandise sold for the September 30 sale and (b) the inventory on September 30. a) Cost of merchandise sold $ b) Inventory, September 30 $
Beginning inventory, purchases, and sales for Product XCX are as follows: Sept. 1 Beginning Inventory 26 units @ $13 5 Sale 12 units 17 Purchase 23 units @ $16 30 Sale 15 units Assuming a perpetual inventory system and the last-in, first-out method, determine (a) the cost of the merchandise sold for the September 30 sale and (b) the inventory on September 30. a) Cost of merchandise sold $ b) Inventory, September 30 $
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 3PEA: Beginning inventory, purchases, and sales for Item Zebra 9x are as follows: Assuming a perpetual...
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Beginning inventory, purchases, and sales for Product XCX are as follows:
Sept. 1 | Beginning Inventory | 26 units | @ | $13 |
5 | Sale | 12 units | ||
17 | Purchase | 23 units | @ | $16 |
30 | Sale | 15 units |
Assuming a perpetual inventory system and the last-in, first-out method, determine (a) the cost of the merchandise sold for the September 30 sale and (b) the inventory on September 30.
a) Cost of merchandise sold | $ |
b) Inventory, September 30 | $ |
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Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning Inventory 25 units $12 5 Sale 15 units 15 Purchase 26units $13 30 Sale 16 units
assuming a perpetual inventory system and the last in first out method, determine the cost of the merchandise sold for the sept 30 sale and the inventory on sept 30
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