Assuming FIFO cost cash flow method is used, how much is the ending inventory and cost of sales, respectively?A. 130,000 and 101,000B. 101,000 and 130,000C. 105,000 and 126,300D. 126,300 and 105,000 ABC Co. using perpetual Inventory system, has the following Informatlonfor the month of JanDateTransactionUnitsUnit costJan 1Beginning20,000412Purchase12,0004.216Purchase20,00025,0004.420Sales25Purchase3,0004.3

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Description: Assuming FIFO cost cash flow method is used, how much is the ending inventory and cost of sales, respectively?A. 130,000 and 101,000B. 101,000 and 130,000C. 105,000 and 126,300D. 126,300 and 105,000 ABC Co. using perpetual Inventory system, has the

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ABC Co. using perpetual Inventory system, has the following Information for the month of Jan Date Transaction Units Unit cost Jan 1 Beginning 20,000 12 Purchase 12,000 4.2 16 Purchase 20,000 4.4 20 Sales 25,000 25 Purchase 3,000 4.3

ABC Co. using perpetual Inventory system, has the following Information for the month of Jan Date Transaction Units Unit cost Jan 1 Beginning 20,000 12 Purchase 12,000 4.2 16 Purchase 20,000 4.4 20 Sales 25,000 25 Purchase 3,000 4.3

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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