If the begning inventory is 0 and purchases during the period are as follows: Date of purchase Units Unit Cost 1st April 120 2 7th April 80 2 12 - Aug 50 3 9th Sept 100 5 3rd Nov 150 6 2nd Feb 120 5 31st March Ending Inventory 220 What will be the COGS for the period using FIFO method Question 1Answer a. 1250 b . 1150 c. 1350 d. 1450 which is write ans plz explai step by step

If the begning inventory is 0 and purchases during the period are as follows: Date of purchase Units Unit Cost 1st April 120 2 7th April 80 2 12 - Aug 50 3 9th Sept 100 5 3rd Nov 150 6 2nd Feb 120 5 31st March Ending Inventory 220 What will be the COGS for the period using FIFO method Question 1Answer a. 1250 b . 1150 c. 1350 d. 1450 which is write ans plz explai step by step

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 6.2BE: Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as...

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