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On April 1 2021, Slay Company had 6,000 units of merchandise on hand that cost P120 per unit. During the month, Bosh Company had the following entries with regard to the merchandise: April 5 Purchased on account 15,000 units at P140 per unit. 8 Returned 1,000 units from the April 5 purchase. 29 Sold on account 16,000 units at P200 per unit. Bosh company uses a perpetual inventory system and a FIFO cost flow. What is the cost of goods sold for April?

On April 1 2021, Slay Company had 6,000 units of merchandise on hand that cost P120 per unit. During the month, Bosh Company had the following entries with regard to the merchandise: April 5 Purchased on account 15,000 units at P140 per unit. 8 Returned 1,000 units from the April 5 purchase. 29 Sold on account 16,000 units at P200 per unit. Bosh company uses a perpetual inventory system and a FIFO cost flow. What is the cost of goods sold for April?

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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SLAY COMPANY

bartlebvoomld. the cheaters EDIT On April 1 2021, Slay Company had 6,000 units of merchandise on hand that cost P120 per unit. During the month, Bosh Company had the following entries with regard to the merchandise: April Purchased on account 15,000 units at P140 per unit. 8 Returned 1,000 units from the April 5 purchase. 29 Sold on account 16,000 units at P200 per unit. Bosh company uses a perpetual inventory system and a FIFO cost flow. What is the cost of goods sold for April? •.. More Add to Story
Transcribed Image Text:bartlebvoomld. the cheaters EDIT On April 1 2021, Slay Company had 6,000 units of merchandise on hand that cost P120 per unit. During the month, Bosh Company had the following entries with regard to the merchandise: April Purchased on account 15,000 units at P140 per unit. 8 Returned 1,000 units from the April 5 purchase. 29 Sold on account 16,000 units at P200 per unit. Bosh company uses a perpetual inventory system and a FIFO cost flow. What is the cost of goods sold for April? •.. More Add to Story
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