Beginning Inventory, purchases, and sales for Item ACC211-80 are as follows: March 1 50 units at $8 March 6 20 units March 13 90 units at $10 March 201 54 units i Inventory Sale Purchase Sale Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine a) the cost of merchandise sold on March 20, and b) the inventory on March 31 B) Beginning Inventory, purchases, and sales for Item ACC211-80 are as follows: March 1 Inventory 50 units at $8 March 6 Sale 20 units March 13 Purchase 90 units at $10 March 20 Sale 54 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine a) the cost of merchandise sold on March 20, and b) the inventory on March 31
Beginning Inventory, purchases, and sales for Item ACC211-80 are as follows: March 1 50 units at $8 March 6 20 units March 13 90 units at $10 March 201 54 units i Inventory Sale Purchase Sale Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine a) the cost of merchandise sold on March 20, and b) the inventory on March 31 B) Beginning Inventory, purchases, and sales for Item ACC211-80 are as follows: March 1 Inventory 50 units at $8 March 6 Sale 20 units March 13 Purchase 90 units at $10 March 20 Sale 54 units Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine a) the cost of merchandise sold on March 20, and b) the inventory on March 31
Chapter1: Financial Statements And Business Decisions
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
Transcribed Image Text:Beginning Inventory, purchases, and sales for Item ACC211-80 are as follows:
March 1
Inventory
50 units at $8
March 6
Sale
20 units
March 13
Purchase
90 units at $10
March 201
Sale
54 units
Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine
a) the cost of merchandise sold on March 20, and
b) the inventory on March 31
B)
Beginning Inventory, purchases, and sales for Item ACC211-80 are as follows:
March 11
50 units at $8.
March 6
20 units
March 13
90 units at $10
March 201
54 units
Inventory
Sale
Purchase
Sale
Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine
a) the cost of merchandise sold on March 20, and
b) the inventory on March 31
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