Vaughn Distribution markets CDs of the performing artist Unique. At the beginning of October, Vaughn had in beginning inventory 2,000 of Unique’s CDs with a unit cost of $5. During October, Vaughn made the following purchases of Unique’s CDs. Oct. 3 2,500 @ $6 Oct. 19 3,000 @ $8 Oct. 9 3,500 @ $7 Oct. 25 4,000 @ $9 During October, 10,850 units were sold. Vaughn uses a periodic inventory system
Vaughn Distribution markets CDs of the performing artist Unique. At the beginning of October, Vaughn had in beginning inventory 2,000 of Unique’s CDs with a unit cost of $5. During October, Vaughn made the following purchases of Unique’s CDs. Oct. 3 2,500 @ $6 Oct. 19 3,000 @ $8 Oct. 9 3,500 @ $7 Oct. 25 4,000 @ $9 During October, 10,850 units were sold. Vaughn uses a periodic inventory system
Chapter10: Inventory
Section: Chapter Questions
Problem 5PA: Use the first-in, first-out (FIFO) cost allocation method, with perpetual inventory updating, to...
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Vaughn Distribution markets CDs of the performing artist Unique. At the beginning of October, Vaughn had in beginning inventory 2,000 of Unique’s CDs with a unit cost of $5. During October, Vaughn made the following purchases of Unique’s CDs.
Oct. 3
|
2,500 | @ | $6 |
Oct. 19
|
3,000 | @ | $8 | |||
---|---|---|---|---|---|---|---|---|---|---|
Oct. 9
|
3,500 | @ | $7 |
Oct. 25
|
4,000 | @ | $9 |
During October, 10,850 units were sold. Vaughn uses a periodic inventory system.
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