Inventory records for Capetown, Incorporated revealed the following: Date April 1 April 20 Number of Transaction Units Unit Cost Beginning Inventory 500 Purchase 380 $ 2.47 2.74 Capetown sold 560 units of inventory during the month. Ending inventory assuming FIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)
Inventory records for Capetown, Incorporated revealed the following: Date April 1 April 20 Number of Transaction Units Unit Cost Beginning Inventory 500 Purchase 380 $ 2.47 2.74 Capetown sold 560 units of inventory during the month. Ending inventory assuming FIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Inventory records for Capetown, Incorporated revealed the following:
Date
April 1
April 20
Number of
Transaction
Units
Unit Cost
Beginning Inventory
500
Purchase
380
$ 2.47
2.74
Capetown sold 560 units of inventory during the month. Ending inventory assuming FIFO would be: (Do not round your intermediate calculations.
Round your answer to the nearest dollar amount.)
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