ake me to the text An inventory record card for item F-350 shows the following details in 2019. Date Purchases Sales Balance Quantity Cost/Unit Quantity Cost/Unit Quantity Cost/Unit Jan 1 69 $65 Jan 5 133 $63 69 $65 133 $63 Jan 18 69 $65 13 $63 120 $63 120 $63 Jan 21 41 $75 110 $63 10 $63 Jan 26 41 $75 Required The company uses the FIFO cost method for inventory valuation under the perpet ding inventory on January 26. 41 $75
ake me to the text An inventory record card for item F-350 shows the following details in 2019. Date Purchases Sales Balance Quantity Cost/Unit Quantity Cost/Unit Quantity Cost/Unit Jan 1 69 $65 Jan 5 133 $63 69 $65 133 $63 Jan 18 69 $65 13 $63 120 $63 120 $63 Jan 21 41 $75 110 $63 10 $63 Jan 26 41 $75 Required The company uses the FIFO cost method for inventory valuation under the perpet ding inventory on January 26. 41 $75
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Take me to the text
An inventory record card for item F-350 shows the following details in 2019.
Date
Purchases
Sales
Balance
Quantity Cost/Unit Quantity Cost/Unit Quantity Cost/Unit
Jan 1
69
$65
Jan 5
133
$63
69
$65
133
$63
Jan 18
69
$65
13
$63
120 $63
Jan 21
120
$63
pre pour
41 $75
Jan 26
110 $63
10
$63
41
$75
Required
The company uses the FIFO cost method for inventory valuation under the perpetual i
and the value of ending inventory on January 26.
W
Do not enter dollar signs or commas in the input boxes.
Cost of Goods Sold = $
Ending Inventory = $
Check
LOE
41
$75
S
HOL](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcc000041-d60d-4810-b05d-5222cc0d7ae3%2F397c40af-7678-4763-b0aa-51a381ca9480%2F8p2zylf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Take me to the text
An inventory record card for item F-350 shows the following details in 2019.
Date
Purchases
Sales
Balance
Quantity Cost/Unit Quantity Cost/Unit Quantity Cost/Unit
Jan 1
69
$65
Jan 5
133
$63
69
$65
133
$63
Jan 18
69
$65
13
$63
120 $63
Jan 21
120
$63
pre pour
41 $75
Jan 26
110 $63
10
$63
41
$75
Required
The company uses the FIFO cost method for inventory valuation under the perpetual i
and the value of ending inventory on January 26.
W
Do not enter dollar signs or commas in the input boxes.
Cost of Goods Sold = $
Ending Inventory = $
Check
LOE
41
$75
S
HOL
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