The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory 22 units @ $31 $682 June 16 Purchase 32 units @ $34 1,088 Nov. 28 Purchase 46 units @ $39 1,794 100 units $3,564 There are 16 units of the product in the physical inventory at November 30. The periodic inventory system is used. a. Determine the inventory cost by the FIFO
The units of Manganese Plus available for sale during the year were as follows: Mar. 1 Inventory 22 units @ $31 $682 June 16 Purchase 32 units @ $34 1,088 Nov. 28 Purchase 46 units @ $39 1,794 100 units $3,564 There are 16 units of the product in the physical inventory at November 30. The periodic inventory system is used. a. Determine the inventory cost by the FIFO
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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