Bouquet Co. had a beginning inventory on January 1 of 300 boxes of flowers at a cost of $9 per box. During the year, the following transactions occurred: Boxes Cost 10-Feb Purchase 700 $7 20-Mar Sale 500 30-Oct Purchase 100 $12 15-Nov Sale 400 Required: Determine ending inventory and COGS using the FIFO cost method. Bouquet Co uses a perpetual inventory system.
Bouquet Co. had a beginning inventory on January 1 of 300 boxes of flowers at a cost of $9 per box. During the year, the following transactions occurred: Boxes Cost 10-Feb Purchase 700 $7 20-Mar Sale 500 30-Oct Purchase 100 $12 15-Nov Sale 400 Required: Determine ending inventory and COGS using the FIFO cost method. Bouquet Co uses a perpetual inventory system.
Chapter10: Inventory
Section: Chapter Questions
Problem 8EA: Calculate the cost of goods sold dollar value for A65 Company for the month, considering the...
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Bouquet Co. had a beginning inventory on January 1 of 300 boxes of flowers at a cost of $9 per box. During the year, the following transactions occurred:
Boxes Cost
10-Feb Purchase 700 $7
20-Mar Sale 500
30-Oct Purchase 100 $12
15-Nov Sale 400
Required: Determine ending inventory and COGS using the FIFO cost method. Bouquet Co uses a perpetual inventory system.
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