Q4: These are amounts and prices of Ahmed company store: Account name Quantity Cost per unit 10 30 12 32 Inventory at Des. 31, 2018 First purchased Jan / 8 Second purchased Jan / 14 Third purchased Jan/21 Sold 10 unit 19 34 24 36 10 Required: using FIFO method under the periodic system to find total Goods available for sale, cost of Goods sold and ending inventory.

Q4: These are amounts and prices of Ahmed company store: Account name Quantity Cost per unit 10 30 12 32 Inventory at Des. 31, 2018 First purchased Jan / 8 Second purchased Jan / 14 Third purchased Jan/21 Sold 10 unit 19 34 24 36 10 Required: using FIFO method under the periodic system to find total Goods available for sale, cost of Goods sold and ending inventory.

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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