Concord Company's inventory records show the following data for the month of September: Inventory, September 1 Purchases: September 8 September 18 Ending inventory Cost of goods sold $ Units $ 90 460 260 A physical inventory on September 30 shows 130 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses FIFO inventory costing and a periodic inventory system. Unit Cost $3.20 3.50 3.60
Concord Company's inventory records show the following data for the month of September: Inventory, September 1 Purchases: September 8 September 18 Ending inventory Cost of goods sold $ Units $ 90 460 260 A physical inventory on September 30 shows 130 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses FIFO inventory costing and a periodic inventory system. Unit Cost $3.20 3.50 3.60
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter6: Inventories
Section: Chapter Questions
Problem 2PB: LIFO perpetual inventory The beginning inventory for Dunne Co. and data on purchases and sales for a...
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