A company reports the following beginning inventory and 2 purchases for the month of January. On January 26, the company sells 350 units. Ending inventory at January 31 totals 150 units Units Unit Cost Beginning Inventory 320 units $10.00 Purchases on January 9 80 5.20 Purchases on January 25 100 5.54 Required Assume the perpetual inventory system is used. Determine the costs assigned to the ending inventory when costs are assigned based on The FIFO method
A company reports the following beginning inventory and 2 purchases for the month of January. On January 26, the company sells 350 units. Ending inventory at January 31 totals 150 units Units Unit Cost Beginning Inventory 320 units $10.00 Purchases on January 9 80 5.20 Purchases on January 25 100 5.54 Required Assume the perpetual inventory system is used. Determine the costs assigned to the ending inventory when costs are assigned based on The FIFO method
Chapter10: Inventory
Section: Chapter Questions
Problem 8EA: Calculate the cost of goods sold dollar value for A65 Company for the month, considering the...
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A company reports the following beginning inventory and 2 purchases for the month of January.
On January 26, the company sells 350 units.
Ending inventory at January 31 totals 150 units
|
Units |
Unit Cost |
Beginning Inventory |
320 units |
$10.00 |
Purchases on January 9 |
80 |
5.20 |
Purchases on January 25 |
100 |
5.54 |
Required
Assume the perpetual inventory system is used. Determine the costs assigned to the ending inventory when costs are assigned based on
- The FIFO method
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