Use the following information to calculate the value of inventory on hand on Mar 31 and cost of goods sold during March in FIFO periodic inventory system and under FIFO perpetual inventory system. Mar 1 Beginning Inventory 68 units @ $15.00 per unit 5 Purchase 140 units @ $15.50 per unit 9 Sale 94 units @ $19.00 per unit 11 Purchase 40 units @ $16.00 per unit 16 Purchase 78 units @ $16.50 per unit 20 Sale 116 units @ $19.50 per unit 29 Sale 62 units @ $21.00 per unit

Use the following information to calculate the value of inventory on hand on Mar 31 and cost of goods sold during March in FIFO periodic inventory system and under FIFO perpetual inventory system. Mar 1 Beginning Inventory 68 units @ $15.00 per unit 5 Purchase 140 units @ $15.50 per unit 9 Sale 94 units @ $19.00 per unit 11 Purchase 40 units @ $16.00 per unit 16 Purchase 78 units @ $16.50 per unit 20 Sale 116 units @ $19.50 per unit 29 Sale 62 units @ $21.00 per unit

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Description: Please do not give solution in image format thanku Use the following information to calculate thevalue of inventory on hand on Mar 31 and costof goods sold during March in FIFO periodicinventory system and under FIFO perpetualinventory system.Mar 1 B

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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