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June 1 June 11 Junes 20 Balance. 400 units @ $10 Purchased 900 units @ $12 Purchased 600 units @ $13 June 10 June 15 June 27 Sold Sold Sold 300 units @ $24 600 units @ $25 500 units @ $27

June 1 June 11 Junes 20 Balance. 400 units @ $10 Purchased 900 units @ $12 Purchased 600 units @ $13 June 10 June 15 June 27 Sold Sold Sold 300 units @ $24 600 units @ $25 500 units @ $27

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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III. Inventory information for 379 part of Santa Ana Corp. discloses the following information for the month of June. June 1 June 11 Junes. 20 Balance 400 units @ $10 Purchased 900 units @ $12 Purchased 600 units @ $13 June 10 June 15 June 27 Sold Sold Sold 300 units @ $24 600 units @ $25 500 units @ $27 a. Assuming that the period inventory method is used, compute the cost of goods sold and ending inventory under: LIFO and FIFO
Transcribed Image Text:III. Inventory information for 379 part of Santa Ana Corp. discloses the following information for the month of June. June 1 June 11 Junes. 20 Balance 400 units @ $10 Purchased 900 units @ $12 Purchased 600 units @ $13 June 10 June 15 June 27 Sold Sold Sold 300 units @ $24 600 units @ $25 500 units @ $27 a. Assuming that the period inventory method is used, compute the cost of goods sold and ending inventory under: LIFO and FIFO
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