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rchases nce) 800 @ €3.20 June 2 2,200 @ 3.10 6 1,200 @ 3.30 1,800 @ 3.40 10

rchases nce) 800 @ €3.20 June 2 2,200 @ 3.10 6 1,200 @ 3.30 1,800 @ 3.40 10

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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Transactions for the month of June were: Purchases June 1(balance) Sales 800 @ €3.20 June 2 600 @ €5.50 3 2,200 @ 3.10 6 1,600 @ 5.50 7 1,200 @ 3.30 1,000 @ 5.50 15 1,800 @ 3.40 10 400 @ 6.00 22 500 @ 3.50 18 1,400 @ 6.00 25 200 @ 6.00 36. Assuming that perpetual inventory records are kept in dollars, the ending inventory on a FIFO basis is?
Transcribed Image Text:Transactions for the month of June were: Purchases June 1(balance) Sales 800 @ €3.20 June 2 600 @ €5.50 3 2,200 @ 3.10 6 1,600 @ 5.50 7 1,200 @ 3.30 1,000 @ 5.50 15 1,800 @ 3.40 10 400 @ 6.00 22 500 @ 3.50 18 1,400 @ 6.00 25 200 @ 6.00 36. Assuming that perpetual inventory records are kept in dollars, the ending inventory on a FIFO basis is?
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