Beginning inventory, purchases, and sales for Product XCX are as follows: Sep. 1 Beginning Inventory 23 units O $11 Sale 15 units 17 Purchase 28 units O $12 30 Sale 19 units Assuming a perpetual inventory system and the last-in, first-out method, determine (a) the cost of the goods sold for the September 30 sale and (b) the inventory on September 30. a) Cost of goods sold b) Inventory, September 30
Beginning inventory, purchases, and sales for Product XCX are as follows: Sep. 1 Beginning Inventory 23 units O $11 Sale 15 units 17 Purchase 28 units O $12 30 Sale 19 units Assuming a perpetual inventory system and the last-in, first-out method, determine (a) the cost of the goods sold for the September 30 sale and (b) the inventory on September 30. a) Cost of goods sold b) Inventory, September 30
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 3PEA: Beginning inventory, purchases, and sales for Item Gidget are as follows: Assuming a perpetual...
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![Beginning inventory, purchases, and sales for Product XCX are as follows:
Sep. 1
Beginning Inventory 23 units
@ $11
Sale
15 units
17 Purchase
28 units
@ $12
30
Sale
19 units
Assuming a perpetual inventory system and the last-in, first-out method, determine (a) the cost of the goods sold for the September 30 sale
and (b) the inventory on September 30.
a) Cost of goods sold
b) Inventory, September 30
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Transcribed Image Text:Beginning inventory, purchases, and sales for Product XCX are as follows:
Sep. 1
Beginning Inventory 23 units
@ $11
Sale
15 units
17 Purchase
28 units
@ $12
30
Sale
19 units
Assuming a perpetual inventory system and the last-in, first-out method, determine (a) the cost of the goods sold for the September 30 sale
and (b) the inventory on September 30.
a) Cost of goods sold
b) Inventory, September 30
Previous
Email Instruct
All work saved.
0106E 8 AVE HHIALEAH EL 33013
%24
%24
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