Using Perpetual Inventory, identify cost of goods sold expense for Oct 2021 # Units Cost Sale price 01-Oct Opening Inventory 500 $10,000.00 04-Oct Sales 100 $4,000.00 07-Oct 11-Oct Purchase 300 $6,300.00 Sales 225 $9,225.00 15-Oct 17-Oct 18-Oct Purchase 350 $6,650.00 Sales 175 $6,650.00 Sales 275 $10,725.00 Using Weighted Average, provide Closing Inventory
Using Perpetual Inventory, identify cost of goods sold expense for Oct 2021 # Units Cost Sale price 01-Oct Opening Inventory 500 $10,000.00 04-Oct Sales 100 $4,000.00 07-Oct 11-Oct Purchase 300 $6,300.00 Sales 225 $9,225.00 15-Oct 17-Oct 18-Oct Purchase 350 $6,650.00 Sales 175 $6,650.00 Sales 275 $10,725.00 Using Weighted Average, provide Closing Inventory
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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