Units Unit Cost Total Cost Units Sold Beginning Inventory 32 $18 $576 Sale no. 1 10 Purchase no. 1 28 20 560 Sale no. 2 32 Purchase no. 2 20 19 380 Totals 80 $1,516 Assuming Newtown, Inc., uses FIFO inventory procedures, the ending inventory cost is:
Units Unit Cost Total Cost Units Sold Beginning Inventory 32 $18 $576 Sale no. 1 10 Purchase no. 1 28 20 560 Sale no. 2 32 Purchase no. 2 20 19 380 Totals 80 $1,516 Assuming Newtown, Inc., uses FIFO inventory procedures, the ending inventory cost is:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Topic Video
Question
![Units Unit Cost Total Cost Units Sold
Beginning Inventory
32
$18
$576
Sale no. 1
10
Purchase no. 1
28
20
560
Sale no. 2
32
Purchase no. 2
20
19
380
Totals
80
$1,516
42
Assuming Newtown, Inc., uses FIFO inventory procedures, the ending inventory cost is:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F170cb1c0-58f4-4062-bdc2-7d0c33c3e95b%2F78c3cfb5-564a-4791-a8b0-e93b28b82ccd%2Fajkp653_processed.png&w=3840&q=75)
Transcribed Image Text:Units Unit Cost Total Cost Units Sold
Beginning Inventory
32
$18
$576
Sale no. 1
10
Purchase no. 1
28
20
560
Sale no. 2
32
Purchase no. 2
20
19
380
Totals
80
$1,516
42
Assuming Newtown, Inc., uses FIFO inventory procedures, the ending inventory cost is:
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