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) 23 $ 14 $ 322 Purchase (Jan. 11) 15 $ 20 300 Purchase (Jan. 20) 26 $ 22 572 Total 64 $ 1,194 On January 14, Beech Soda, Inc. sold 28 units of this product. The other 36 units remained in inventory at January 31.
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) 23 $ 14 $ 322 Purchase (Jan. 11) 15 $ 20 300 Purchase (Jan. 20) 26 $ 22 572 Total 64 $ 1,194 On January 14, Beech Soda, Inc. sold 28 units of this product. The other 36 units remained in inventory at January 31.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
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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) | 23 | $ | 14 | $ | 322 | ||||
Purchase (Jan. 11) | 15 | $ | 20 | 300 | |||||
Purchase (Jan. 20) | 26 | $ | 22 | 572 | |||||
Total | 64 | $ | 1,194 | ||||||
On January 14, Beech Soda, Inc. sold 28 units of this product. The other 36 units remained in inventory at January 31.
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