ompany reported the following January purchases and sales data for its only product. For specific identification, ventory consists of 270 units from the January 30 purchase, 5 units from the January 20 purchase, and 10 unit ginning inventory. y 1 Activities Beginning inventory Units Acquired at Cost Units sold at Retail 185 units @ $ 11.00 = $ 2,035 y 10 Sales 145 units @ $ 20.00 y 20 Purchase 100 units @ $ 10.00 = 1,000 y 25 Sales 125 units @ $ 20.00 ry 30 Purchase 270 units @ $ 9.50 = Totals 555 units 2,565 $ 5,600 270 units
ompany reported the following January purchases and sales data for its only product. For specific identification, ventory consists of 270 units from the January 30 purchase, 5 units from the January 20 purchase, and 10 unit ginning inventory. y 1 Activities Beginning inventory Units Acquired at Cost Units sold at Retail 185 units @ $ 11.00 = $ 2,035 y 10 Sales 145 units @ $ 20.00 y 20 Purchase 100 units @ $ 10.00 = 1,000 y 25 Sales 125 units @ $ 20.00 ry 30 Purchase 270 units @ $ 9.50 = Totals 555 units 2,565 $ 5,600 270 units
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 5PA
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