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You are given the following information for Sandhill Company for the month ended November 30, 2024: Date Description Units Unit Cost Nov. 1 Beginning inventory 61 $51 9 Purchase 100 45 15 Sale (115) 22 Purchase 150 42 29 Sale (170) 30 Purchase 48 40 Sandhill Company uses a perpetual inventory system. All sales and purchases are on account. (a) Calculate the cost of goods sold and the ending inventory using FIFO. Cost of goods sold $ Ending inventory $

You are given the following information for Sandhill Company for the month ended November 30, 2024: Date Description Units Unit Cost Nov. 1 Beginning inventory 61 $51 9 Purchase 100 45 15 Sale (115) 22 Purchase 150 42 29 Sale (170) 30 Purchase 48 40 Sandhill Company uses a perpetual inventory system. All sales and purchases are on account. (a) Calculate the cost of goods sold and the ending inventory using FIFO. Cost of goods sold $ Ending inventory $

FINANCIAL ACCOUNTING
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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You are given the following information for Sandhill Company for the month ended November 30, 2024: Date Description Units Unit Cost Nov. 1 Beginning inventory 61 $51 9 Purchase 100 45 15 Sale (115) 22 Purchase 150 42 29 Sale (170) 30 Purchase 48 40 Sandhill Company uses a perpetual inventory system. All sales and purchases are on account. (a) Calculate the cost of goods sold and the ending inventory using FIFO. Cost of goods sold $ Ending inventory $
Transcribed Image Text:You are given the following information for Sandhill Company for the month ended November 30, 2024: Date Description Units Unit Cost Nov. 1 Beginning inventory 61 $51 9 Purchase 100 45 15 Sale (115) 22 Purchase 150 42 29 Sale (170) 30 Purchase 48 40 Sandhill Company uses a perpetual inventory system. All sales and purchases are on account. (a) Calculate the cost of goods sold and the ending inventory using FIFO. Cost of goods sold $ Ending inventory $
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