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January 01 Question 2: The following information relates to an inventory carried by a business: Beginning Inventory 400 units @ BD 30 each March 31 Purchases 600 units @ BD 40 each July 31 Sales 700 units @ BD 40 each October 31 Purchases 500 units @ BD 60 each December 31 Sales 400 units @ BD 50 each equired: ■lculate the value of closing inventory and Cost of Goods Sold, which under the WA ethod and FIFO method. The company uses the perpetual inventory system. Date an 01 tal Goods Purchased FIFO method Cost of Goods Sold Inventory Balance WA method Date Goods Purchased Cost of Goods Sold Inventory Balan 01

January 01 Question 2: The following information relates to an inventory carried by a business: Beginning Inventory 400 units @ BD 30 each March 31 Purchases 600 units @ BD 40 each July 31 Sales 700 units @ BD 40 each October 31 Purchases 500 units @ BD 60 each December 31 Sales 400 units @ BD 50 each equired: ■lculate the value of closing inventory and Cost of Goods Sold, which under the WA ethod and FIFO method. The company uses the perpetual inventory system. Date an 01 tal Goods Purchased FIFO method Cost of Goods Sold Inventory Balance WA method Date Goods Purchased Cost of Goods Sold Inventory Balan 01

FINANCIAL ACCOUNTING
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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January 01 Question 2: The following information relates to an inventory carried by a business: Beginning Inventory 400 units @ BD 30 each March 31 Purchases 600 units @ BD 40 each July 31 Sales 700 units @ BD 40 each October 31 Purchases 500 units @ BD 60 each December 31 Sales 400 units @ BD 50 each equired: ■lculate the value of closing inventory and Cost of Goods Sold, which under the WA ethod and FIFO method. The company uses the perpetual inventory system. Date an 01 tal Goods Purchased FIFO method Cost of Goods Sold Inventory Balance WA method Date Goods Purchased Cost of Goods Sold Inventory Balan 01
Transcribed Image Text:January 01 Question 2: The following information relates to an inventory carried by a business: Beginning Inventory 400 units @ BD 30 each March 31 Purchases 600 units @ BD 40 each July 31 Sales 700 units @ BD 40 each October 31 Purchases 500 units @ BD 60 each December 31 Sales 400 units @ BD 50 each equired: ■lculate the value of closing inventory and Cost of Goods Sold, which under the WA ethod and FIFO method. The company uses the perpetual inventory system. Date an 01 tal Goods Purchased FIFO method Cost of Goods Sold Inventory Balance WA method Date Goods Purchased Cost of Goods Sold Inventory Balan 01
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