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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.

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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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.
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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