Beech Soda, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows: Quantity Unit Cost Total Cost Beginning inventory (Jan. 1) 20 $ 11 $ 220 Purchase (Jan. 11) 12 $ 17 204 Purchase (Jan. 20) 23 $ 19 437 Total 55 $ 861 On January 14, Beech Soda, Inc. sold 25 units of this product. The other 30 units remained in inventory at January 31. Assuming that Beech Soda uses the FIFO cost flow assumption, the 30 units of this product in inventory at January 31 have a total cost of:
Beech Soda, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows: Quantity Unit Cost Total Cost Beginning inventory (Jan. 1) 20 $ 11 $ 220 Purchase (Jan. 11) 12 $ 17 204 Purchase (Jan. 20) 23 $ 19 437 Total 55 $ 861 On January 14, Beech Soda, Inc. sold 25 units of this product. The other 30 units remained in inventory at January 31. Assuming that Beech Soda uses the FIFO cost flow assumption, the 30 units of this product in inventory at January 31 have a total cost of:
Chapter1: Financial Statements And Business Decisions
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Beech Soda, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows:
| Quantity | Unit Cost | Total Cost | |||||||
| Beginning inventory (Jan. 1) | 20 | $ | 11 | $ | 220 | ||||
| Purchase (Jan. 11) | 12 | $ | 17 | 204 | |||||
| Purchase (Jan. 20) | 23 | $ | 19 | 437 | |||||
| Total | 55 | $ | 861 | ||||||
On January 14, Beech Soda, Inc. sold 25 units of this product. The other 30 units remained in inventory at January 31.
Assuming that Beech Soda uses the FIFO cost flow assumption, the 30 units of this product in inventory at January 31 have a total cost of:
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