Use the following information to answer the next two questions. ABC Company's beginning inventory on January 1, 2022 consisted of 1,000 units costing $1.50 per unit. ABC's inventory records for 2022 revealed the following: Quantity Cost 2,500 $3,750 $17,350 $19,850 $12,250 January 25 February 15 March 21 $20,750 April 5 April 20 May 20 July 22 September 10 October 14 $22,600 4,000 8,000 3,000 7,500 1,500 4,500 3,200 9,600 Quantity Sales November 10 2,100 8,925 Sales during the period consisted of 8,200 units, made at a selling price of $4.25 per unit. 800 $3,400 Assuming the use of the perpetual first-in, first-out inventory costing method, the ending inventory would be: 1,500 6,375 2,500 10,625 1,300 5,525

Use the following information to answer the next two questions. ABC Company's beginning inventory on January 1, 2022 consisted of 1,000 units costing $1.50 per unit. ABC's inventory records for 2022 revealed the following: Quantity Cost 2,500 $3,750 $17,350 $19,850 $12,250 January 25 February 15 March 21 $20,750 April 5 April 20 May 20 July 22 September 10 October 14 $22,600 4,000 8,000 3,000 7,500 1,500 4,500 3,200 9,600 Quantity Sales November 10 2,100 8,925 Sales during the period consisted of 8,200 units, made at a selling price of $4.25 per unit. 800 $3,400 Assuming the use of the perpetual first-in, first-out inventory costing method, the ending inventory would be: 1,500 6,375 2,500 10,625 1,300 5,525

Name: Please help me Assuming the use of the perpetual last-in, first-out in
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Description: Please help me Assuming the use of the perpetual last-in, first-out inventory costing method, gross profit would be:$14,200$22,600$20,700$12,250$17,500 Use the following information to answer the next two questions.ABC Company's beginning inventory o

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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