3) Vango, Inc. sells part number 86Z to auto parts stores around the world. Information about part number 86Z is contained in the table below. Vango uses a FIFO periodic inventory system. Beginning inventory Purchase Purchase Totals Number of Units 2,000 3,000 5,000 10,000 Unit Cost $8.00 $8.20 $8.60 Total Cost $16,000 $24,600 $43,000 $83,600 Determine the cost of goods sold and ending inventory value of part 86Z, if 4,000 units remain unsold in inventory at the end of the accounting period.

3) Vango, Inc. sells part number 86Z to auto parts stores around the world. Information about part number 86Z is contained in the table below. Vango uses a FIFO periodic inventory system. Beginning inventory Purchase Purchase Totals Number of Units 2,000 3,000 5,000 10,000 Unit Cost $8.00 $8.20 $8.60 Total Cost $16,000 $24,600 $43,000 $83,600 Determine the cost of goods sold and ending inventory value of part 86Z, if 4,000 units remain unsold in inventory at the end of the accounting period.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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