For 7 to 8. January, Eleanor Company recorded the following information regarding its inventory: Units Unit cost Total cost Units on hand Balance on 1/1 9,000 300 2,700,000 9,000 Purchased on 1/9 6,000 250 1,500,000 15,000 Sold on 1/16 11,000 4,000 Sales return 1/17 1,000 5,000 Purchased on 1/22 5,000 400 2,000,000 10,000 Sold on 1/27 4,000 6,000 Purchased on 1/29 5,000 380 1,900,000 11,000 Questions: 7. is the ending inventory of Eleanor Company under FIFO method? a. 4,150,000 a. 3,900,000 b. 4,500,000 c. 4,250,000
For 7 to 8. January, Eleanor Company recorded the following information regarding its inventory: Units Unit cost Total cost Units on hand Balance on 1/1 9,000 300 2,700,000 9,000 Purchased on 1/9 6,000 250 1,500,000 15,000 Sold on 1/16 11,000 4,000 Sales return 1/17 1,000 5,000 Purchased on 1/22 5,000 400 2,000,000 10,000 Sold on 1/27 4,000 6,000 Purchased on 1/29 5,000 380 1,900,000 11,000 Questions: 7. is the ending inventory of Eleanor Company under FIFO method? a. 4,150,000 a. 3,900,000 b. 4,500,000 c. 4,250,000
Chapter10: Inventory
Section: Chapter Questions
Problem 10EA: Calculate the cost of goods sold dollar value for A67 Company for the month, considering the...
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