Calculate the cost of goods sold dollar value for A65 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for first-in, first-out (FIFO). Number of Units Unit Cost Sales Beginning inventory 900 $50 Purchased 700 52 Sold 390 $80 Sold 350 94 Ending inventory 860
Calculate the cost of goods sold dollar value for A65 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for first-in, first-out (FIFO). Number of Units Unit Cost Sales Beginning inventory 900 $50 Purchased 700 52 Sold 390 $80 Sold 350 94 Ending inventory 860
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Calculate the cost of goods sold dollar value for A65 Company for the month, considering the following transactions under three different cost allocation
methods and using perpetual inventory updating. Provide calculations for first-in, first-out (FIFO).
Number
of Units
Unit Cost Sales
Beginning inventory
900
$50
Purchased
700
52
Sold
390
$80
Sold
350
94
Ending inventory
860
FIFO (perpetual) Inventory
Cost of Goods Purchased
Cost of Goods Sold
Cost of Inventory Remaining
Number
Number
Number
of Units
Unit Cost
Total Cost
of units
Unit Cost
Total Cost
of units
Unit Cost
Total C
Beginning
900
50
Purchase
900
50
45,000
900
50
Sale
390
50
Sale
350
50
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