Information related to Churchill Corporation's inventory for December is given below. 1-Dec Beginning inventory 3-Dec Purchase 9-Dec Sale 13-Dec Purchase 17-Dec Sale 20-Dec Purchase 26-Dec Sale Purchases Units Unit Cost Total Cost Units 100 90 60 Ending inventory units Ending inventory total dollars 40 $65 $60 110 $55 $50 $6,500 $5,400 $ 5900 $3,300 $2,000 Selling Price/Unit 95 30 Sales 55 Total Sales S $100 $102 $105 $9,500 Required: Note: please round your answers to a whole number. Do not include "$" or "," in your answers. (Ex 123456, NOT: $123,456.22) Assume Churchill Corporation uses the perpetual inventory system. Calculate the ending inventory in units and dollars at December 31 using FIFO. $3,060 $5,775
Information related to Churchill Corporation's inventory for December is given below. 1-Dec Beginning inventory 3-Dec Purchase 9-Dec Sale 13-Dec Purchase 17-Dec Sale 20-Dec Purchase 26-Dec Sale Purchases Units Unit Cost Total Cost Units 100 90 60 Ending inventory units Ending inventory total dollars 40 $65 $60 110 $55 $50 $6,500 $5,400 $ 5900 $3,300 $2,000 Selling Price/Unit 95 30 Sales 55 Total Sales S $100 $102 $105 $9,500 Required: Note: please round your answers to a whole number. Do not include "$" or "," in your answers. (Ex 123456, NOT: $123,456.22) Assume Churchill Corporation uses the perpetual inventory system. Calculate the ending inventory in units and dollars at December 31 using FIFO. $3,060 $5,775
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Information related to Churchill Corporation's inventory for December is given below:
1-Dec Beginning inventory
3-Dec Purchase
9-Dec Sale
13-Dec Purchase
17-Dec
Sale
20-Dec Purchase
26-Dec Sale
Units
Purchases
Unit Cost Total Cost Units
100
90
Ending inventory units
Ending inventory total dollars
60
40
$65
$6,500
$60 $5,400
110
$55
$50
$3,300
$5900
$2,000
Selling
Price/Unit
95
30
Sales
55
Total Sales $
$100
$102
$105
Required:
Note: please round your answers to a whole number. Do not include "$" or " in your answers. (Ex: 123456, NOT:
$123,456.22)
Assume Churchill Corporation uses the perpetual inventory system. Calculate the ending inventory
in units and dollars at December 31 using FIFO.
$9,500
$3,060
$5,775
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