A company's inventory records indicate the following data for the month of April: Date Activities Units Acquired at Cost Units Sold at Retail April 1 Beginning inventory 350 units @ $18= $6,300 April 5 Purchase 290 units @ $20= $5,800 April 9 Sale April 14Purchase 250 units @ $22= $5,500 April 20Sale April 30Purchase 500 units @ $55 200 units @ $55 240 units @ $25 = $6,000 If the company uses the first-in, first-out (FIFO) method and the perpetual inventory system, what would be the cost of the ending inventory?
A company's inventory records indicate the following data for the month of April: Date Activities Units Acquired at Cost Units Sold at Retail April 1 Beginning inventory 350 units @ $18= $6,300 April 5 Purchase 290 units @ $20= $5,800 April 9 Sale April 14Purchase 250 units @ $22= $5,500 April 20Sale April 30Purchase 500 units @ $55 200 units @ $55 240 units @ $25 = $6,000 If the company uses the first-in, first-out (FIFO) method and the perpetual inventory system, what would be the cost of the ending inventory?
Chapter1: Financial Statements And Business Decisions
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
Transcribed Image Text:A company's inventory records indicate the following data for the month of April:
Activities
Date
April 1 Beginning inventory 350 units @ $18 = $6,300
April 5 Purchase
290 units @ $20 = $5,800
April 9 Sale
April 14Purchase
April 20Sale
April 30Purchase
Units Acquired at Cost Units Sold at Retail
500 units @ $55
250 units @ $22= $5,500
200 units @ $55
240 units @ $25 = $6,000
If the company uses the first-in, first-out (FIFO) method and the perpetual inventory system, what would be the cost of the ending
inventory?
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