Laker Company reported the following January purchases and sales data for its only product. Units Acquired at Cost 215 units @ $14.00 = $3,010 Date Activities Units sold at Retail Jan. 1 Beginning inventory Jan. 10 Sales 165 units @ $23.00 Jan. 20 Purchase 160 units@ $13.00 = 2,080 Jan. 25 Sales 190 units @ $23.00 330 units@ $12.50 4,125 $9,215 Jan. 30 Purchase %3D Totals 705 units 355 units
Laker Company reported the following January purchases and sales data for its only product. Units Acquired at Cost 215 units @ $14.00 = $3,010 Date Activities Units sold at Retail Jan. 1 Beginning inventory Jan. 10 Sales 165 units @ $23.00 Jan. 20 Purchase 160 units@ $13.00 = 2,080 Jan. 25 Sales 190 units @ $23.00 330 units@ $12.50 4,125 $9,215 Jan. 30 Purchase %3D Totals 705 units 355 units
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 4CP: Golden Eagle Company began operations on April 1 by selling a single product. Data on purchases and...
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