Samuelson and Messenger (SAM) began 2018 with 200 units of its one product. These units were purchasednear the end of 2017 for $25 each. During the month of January, 100 units were purchased on January 8 for $28each and another 200 units were purchased on January 19 for $30 each. Sales of 125 units and 100 units weremade on January 10 and January 25, respectively. There were 275 units on hand at the end of the month. SAMuses a periodic inventory system. Calculate ending inventory and cost of goods sold for January using (1) FIFO,and (2) average cost.

Samuelson and Messenger (SAM) began 2018 with 200 units of its one product. These units were purchasednear the end of 2017 for $25 each. During the month of January, 100 units were purchased on January 8 for $28each and another 200 units were purchased on January 19 for $30 each. Sales of 125 units and 100 units weremade on January 10 and January 25, respectively. There were 275 units on hand at the end of the month. SAMuses a periodic inventory system. Calculate ending inventory and cost of goods sold for January using (1) FIFO,and (2) average cost.

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Description: Samuelson and Messenger (SAM) began 2018 with 200 units of its one product. These units were purchasednear the end of 2017 for $25 each. During the month of January, 100 units were purchased on January 8 for $28each and another 200 units were purchas

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 3CE: Pietro expects to produce 50,000 units and sell 49,300 units. Beginning inventory of finished goods...

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