Fairfax Company uses a perpetual inventory system. The following is information about one inventory item for the month of September: Sep 1 Inventory 4 Sold 10 Purchased 17 Sold 25 units at $18 per unit 12 units 28 units at $23 per unit 30 units 9 units at $22 per unit 30 Purchased Enter answers as whole numbers If Fairfax Company uses FIFO, the cost of the ending merchandise inventory on Sep 30 is? If Fairfax Company uses LIFO, the cost of the ending merchandise inventory on Sep 30 is? If Fairfax Company uses Weighted Average, the cost of the ending merchandise inventory on Sep 30 is?

Fairfax Company uses a perpetual inventory system. The following is information about one inventory item for the month of September: Sep 1 Inventory 4 Sold 10 Purchased 17 Sold 25 units at $18 per unit 12 units 28 units at $23 per unit 30 units 9 units at $22 per unit 30 Purchased Enter answers as whole numbers If Fairfax Company uses FIFO, the cost of the ending merchandise inventory on Sep 30 is? If Fairfax Company uses LIFO, the cost of the ending merchandise inventory on Sep 30 is? If Fairfax Company uses Weighted Average, the cost of the ending merchandise inventory on Sep 30 is?

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Description: Please do not give solution in image format and show all calculation thanku Fairfax Company uses a perpetual inventory system. The following is informationabout one inventory item for the month of September:Sep 1 Inventory4 Sold10 Purchased17 Sold25

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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