Fight Company is a wholesaler of office supplies. The FIFO periodic inventory is used. The entity reported the following activity for inventory during the month of August. Cost August 1 Units Inventory Purchases 20,000 30,000 36,000 48,000 38,000 16,000 36.00 7 37.20 12 Sale 21 Purchase 38.00 22 Sale 29 Purchase 38.60 What is the ending inventory on August 31?
Fight Company is a wholesaler of office supplies. The FIFO periodic inventory is used. The entity reported the following activity for inventory during the month of August. Cost August 1 Units Inventory Purchases 20,000 30,000 36,000 48,000 38,000 16,000 36.00 7 37.20 12 Sale 21 Purchase 38.00 22 Sale 29 Purchase 38.60 What is the ending inventory on August 31?
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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