Metro Computer Company had the following balances and transactions during 2014. Beginning inventory 100 units at $75 March 10 Sold 50 units June 10 Purchased 200 units at $80 October 30 Sold 150 units What would the company's Inventory amount be on the December 31, 2014 balance sheet if the perpetual Last-In, First-Out costing method is used? (Answers are rounded to the nearest dollar.)
Metro Computer Company had the following balances and transactions during 2014. Beginning inventory 100 units at $75 March 10 Sold 50 units June 10 Purchased 200 units at $80 October 30 Sold 150 units What would the company's Inventory amount be on the December 31, 2014 balance sheet if the perpetual Last-In, First-Out costing method is used? (Answers are rounded to the nearest dollar.)
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 33BE
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Metro Computer Company had the following balances and transactions during 2014.
Beginning inventory 100 units at $75
March 10 Sold 50 units
June 10 Purchased 200 units at $80
October 30 Sold 150 units
What would the company's Inventory amount be on the December 31, 2014 balance sheet if the perpetual Last-In, First-Out costing method is used?
(Answers are rounded to the nearest dollar.)
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