Smith Retail has the following purchases and sales for the period. Beginning inventory Purchases Jan 12 Jan 26 Sales Jan 18 Jan 30 Quantity 500 Your Answer: 600 160 370 250 Price $5.92 $ 6.25 $ 6.09 $ 16.00 $ 16.00 What is the ending inventory for the period using FIFO method? Response rounded to whole numbers, without commas and without dollar signs.
Smith Retail has the following purchases and sales for the period. Beginning inventory Purchases Jan 12 Jan 26 Sales Jan 18 Jan 30 Quantity 500 Your Answer: 600 160 370 250 Price $5.92 $ 6.25 $ 6.09 $ 16.00 $ 16.00 What is the ending inventory for the period using FIFO method? Response rounded to whole numbers, without commas and without dollar signs.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Smith Retail has the following purchases and sales for the period.
Beginning inventory
Purchases
Jan 12
Jan 26
Sales
Jan 18
Jan 30
Quantity
500
Your Answer:
600
160
370
250
Price
$5.92
$ 6.25
$ 6.09
$ 16.00
$ 16.00
What is the ending inventory for the period using FIFO method?
Response rounded to whole numbers, without commas and without dollar signs.
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