A company reports the following beginning inventory and two purchases for the month of January. On janurary 26, the company sells 350 units. Ending inventory at january 31 totals 150 units. units unit cost Beginning inventory on Jan 1 320 $3.00 Purchase on Jan 9 80 3.20 Purchase on Jan 25 100 3.34 perpetua inventory system used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method. I need help I had this problem wrong in different sections. Can you give the steps in solving this problem.
A company reports the following beginning inventory and two purchases for the month of January. On janurary 26, the company sells 350 units. Ending inventory at january 31 totals 150 units.
units unit cost
Beginning inventory on Jan 1 320 $3.00
Purchase on Jan 9 80 3.20
Purchase on Jan 25 100 3.34
perpetua inventory system used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method.
I need help I had this problem wrong in different sections. Can you give the steps in solving this problem.
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