Oxendine Company's inventory records for the month of November reveal the following: Inventory, November 1 200 units @ $18.00 November 4, purchase 250 units @ $18.50 November 7, sale 300 units @ $42.00 November 13, purchase 220 units @ $18.90 November 18, purchase 150 units @ $19.00 November 22, sale 380 units @ $42.50 November 24, purchase 200 units @ $19.20 November 28, sale 110 units @ $43.00 Selling and administrative expenses for the month were $10,800. Depreciation'expense was $4,000. Oxendine's tax rate is 35%.
Oxendine Company's inventory records for the month of November reveal the following: Inventory, November 1 200 units @ $18.00 November 4, purchase 250 units @ $18.50 November 7, sale 300 units @ $42.00 November 13, purchase 220 units @ $18.90 November 18, purchase 150 units @ $19.00 November 22, sale 380 units @ $42.50 November 24, purchase 200 units @ $19.20 November 28, sale 110 units @ $43.00 Selling and administrative expenses for the month were $10,800. Depreciation'expense was $4,000. Oxendine's tax rate is 35%.
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Oxendine Company's inventory records for the month of November reveal the following:
Inventory, November 1
200 units @ $18.00
November 4, purchase
250 units @ $18.50
November 7,
sale
300 units @ $42.00
November 13, purchase
220 units @ $18.90
November 18, purchase
150 units @ $19.00
November 22, sale
380 units @ $42.50
November 24, purchase
200 units @ $19.20
November 28, sale
110 units @ $43.00
Selling and administrative expenses for the month were $10,800. Depreciation'expense was $4,000. Oxendine's tax rate is 35%.
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