In 2023, Apple Pie Inc sells 260 units of inventory for $91 each. Apple Pie made the following inventory purchase transactions for 2023: Date Transaction Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase Number of Units 61 Unit Cost Total Cost $62 $ 3,782 163 182 63 10,269 65 406 11,830 $25, 881 Calculate ending inventory and cost of goods sold for 2023 assuming the company uses FIFO. ("NOTE" Cost of Goods sold is the second box, not the first.) Ending inventory (not asking for number of units, asking for total dollar amount) Cost of goods sold
In 2023, Apple Pie Inc sells 260 units of inventory for $91 each. Apple Pie made the following inventory purchase transactions for 2023: Date Transaction Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase Number of Units 61 Unit Cost Total Cost $62 $ 3,782 163 182 63 10,269 65 406 11,830 $25, 881 Calculate ending inventory and cost of goods sold for 2023 assuming the company uses FIFO. ("NOTE" Cost of Goods sold is the second box, not the first.) Ending inventory (not asking for number of units, asking for total dollar amount) Cost of goods sold
Chapter1: Financial Statements And Business Decisions
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
Transcribed Image Text:In 2023, Apple Pie Inc sells 260 units of inventory for $91 each. Apple Pie made the following inventory purchase transactions for
2023:
Date
Transaction
Jan. 1 Beginning inventory
May 5 Purchase
Nov. 3 Purchase
Number
of Units
61
Unit
Cost
Total Cost
$62
$ 3,782
163
182
63
10,269
65
406
11,830
$25, 881
Calculate ending inventory and cost of goods sold for 2023 assuming the company uses FIFO. ("NOTE" Cost of Goods sold is the
second box, not the first.)
Ending inventory (not asking for number of
units, asking for total dollar amount)
Cost of goods sold
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