Q1 Concord Company's inventory records show the following data for the month of September:Inventory, September 1Purchases: September 8September 18Ending inventoryCost of goods sold$Units$90460260Unit CostA physical inventory on September 30 shows 130 units on hand.Calculate the value of ending inventory and cost of goods sold if the company uses FIFO inventory costing and a periodic inventorysystem.$3.203.503.60

Name: Q1 Concord Company's inventory records show the following data for the
Uploaded: 2024-03-20T06:32:37.000Z
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Description: Q1 Concord Company's inventory records show the following data for the month of September:Inventory, September 1Purchases: September 8September 18Ending inventoryCost of goods sold$Units$90460260Unit CostA physical inventory on September 30 shows 130

FIFO Method :— Under this method, Beginning Inventory and old purchases is used for output or sales…

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Concord Company's inventory records show the following data for the month of September: Inventory, September 1 Purchases: September 8 September 18 Ending inventory Cost of goods sold $ Units $ 90 460 260 A physical inventory on September 30 shows 130 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses FIFO inventory costing and a periodic inventory system. Unit Cost $3.20 3.50 3.60