QUESTION 32 The inventory records for Cookie Co. reflected the following: Beginning Inventory @ July 1 200 units @ $1.00 First Purchase @ July 8 300 units @ $1.10 Second Purchase @ July 15 400 units @ $1.20 Third Purchase @ July 26 100 units @ $1.30 800 units @ $1.50 Sales @July 31 Determine the amount of ending inventory assuming the FIFO cost flow method. $130 $100 $250 $200
QUESTION 32 The inventory records for Cookie Co. reflected the following: Beginning Inventory @ July 1 200 units @ $1.00 First Purchase @ July 8 300 units @ $1.10 Second Purchase @ July 15 400 units @ $1.20 Third Purchase @ July 26 100 units @ $1.30 800 units @ $1.50 Sales @July 31 Determine the amount of ending inventory assuming the FIFO cost flow method. $130 $100 $250 $200
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter6: Inventories
Section: Chapter Questions
Problem 6.3BE: Perpetual inventory using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as...
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