Following are the selected transactions of Nehan’s Enterprise relating to inventory during 2014: Required: Calculate the ending inventory, cost of goods sold and net purchase under FIFO method. DateParticularsUnitsUnit Cost/PriceJanuary 1March 1Beginning inventoryPurchase50Tk. 103015March 15Purchase Return515April 1April 3Sales6030Sales returns530

Name: Following are the selected transactions of Nehan’s Enterprise relating
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Description: Following are the selected transactions of Nehan’s Enterprise relating to inventory during 2014: Required: Calculate the ending inventory, cost of goods sold and net purchase under FIFO method. DateParticularsUnitsUnit Cost/PriceJanuary 1March 1Begin

DATE PARTICULARS UNITS Unit cost per price Total cost Jan 1 Beginning inventory 50 10 500 March…

Answered: Particulars Beginning inventory Date…

Business

Accounting

Particulars Beginning inventory Date Units Unit Cost/Price January 1 50 Tk. 10 March 1 Purchase 30 15 March 15 Purchase Return 5 15 30 April 1 April 3 Sales 60 Sales returns 5 30

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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