Study the following data. Transactions for the month of June were: Purchases Sales June 1 (balance) 800 @ $3.20 June 2 600 @ $5.50 2,200 @ 3.10 6. 1,600 @ 5.50 7 1,200 @ 3.30 1,000 @ 5.50 15 1,800 @ 3.40 10 400 @ 6.00 22 500 @ 3.50 18 1,400 @ 6.00 25 200 @ 6.00 Assuming that perpetual inventory records are kept in dollars, the ending inventory on a FIFO basis is $
Study the following data. Transactions for the month of June were: Purchases Sales June 1 (balance) 800 @ $3.20 June 2 600 @ $5.50 2,200 @ 3.10 6. 1,600 @ 5.50 7 1,200 @ 3.30 1,000 @ 5.50 15 1,800 @ 3.40 10 400 @ 6.00 22 500 @ 3.50 18 1,400 @ 6.00 25 200 @ 6.00 Assuming that perpetual inventory records are kept in dollars, the ending inventory on a FIFO basis is $
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 7MCQ
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