Chapter 7 Quiz Perpetual Inventory Using FIFO Beginning inventory, purchases,and sales data for Keurig coffee machines are as follows: June Inventory 50 units at $10 6 Sale 20 units 14 90 units at $11 Purchase 19 Sale 60 units 25 Purchase 30 |Sale 40 units at $13 50 units |The business maintains a perpetual inventory system, costing by the first-in, first-out method. Using the chart below, determine the cost of ending inventory. Sales Date Purchases Inventory (Cost of goods) Unit Cost Total Unit Cost Total Unit Cost Total 1-Jun 6-Jun 14-Jun 19-Jun 25-Jun 30-Jun Cost of ending inventory
Chapter 7 Quiz Perpetual Inventory Using FIFO Beginning inventory, purchases,and sales data for Keurig coffee machines are as follows: June Inventory 50 units at $10 6 Sale 20 units 14 90 units at $11 Purchase 19 Sale 60 units 25 Purchase 30 |Sale 40 units at $13 50 units |The business maintains a perpetual inventory system, costing by the first-in, first-out method. Using the chart below, determine the cost of ending inventory. Sales Date Purchases Inventory (Cost of goods) Unit Cost Total Unit Cost Total Unit Cost Total 1-Jun 6-Jun 14-Jun 19-Jun 25-Jun 30-Jun Cost of ending inventory
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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