The cost of goods sold using the FIFO inventory method for the following tables, Date of purchase Unit purchased Cost per unit Total cost Retail price per unit Total retail value Beginning inventory 96 $12 $18 April 12 23 $9 $13 May 8 15 $11 $17 June 2 37 $15 $21 Goods available for sale Units sold 89 Ending inventory

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Answer 1

Question

Chapter 18.1, Problem 16SE

To determine

To calculate: The cost of goods sold using the FIFO inventory method for the following tables,

Date of purchase

Unit purchased

Cost per unit

Total cost

Retail price per unit

Total retail value

Beginning inventory

96

$12

$18

April 12

23

$9

$13

May 8

15

$11

$17

June 2

37

$15

$21

Goods available for sale

Units sold

89

Ending inventory

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Answer 2

Question

Chapter 18.1, Problem 16SE

To determine

To calculate: The cost of goods sold using the FIFO inventory method for the following tables,

Date of purchase

Unit purchased

Cost per unit

Total cost

Retail price per unit

Total retail value

Beginning inventory

96

$12

$18

April 12

23

$9

$13

May 8

15

$11

$17

June 2

37

$15

$21

Goods available for sale

Units sold

89

Ending inventory

Expert Solution & Answer

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Answer 3

Question

Chapter 18.1, Problem 16SE

To determine

To calculate: The cost of goods sold using the FIFO inventory method for the following tables,

Date of purchase

Unit purchased

Cost per unit

Total cost

Retail price per unit

Total retail value

Beginning inventory

96

$12

$18

April 12

23

$9

$13

May 8

15

$11

$17

June 2

37

$15

$21

Goods available for sale

Units sold

89

Ending inventory

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 18.1, Problem 16SE

To determine

To calculate: The cost of goods sold using the FIFO inventory method for the following tables,

Date of purchase

Unit purchased

Cost per unit

Total cost

Retail price per unit

Total retail value

Beginning inventory

96

$12

$18

April 12

23

$9

$13

May 8

15

$11

$17

June 2

37

$15

$21

Goods available for sale

Units sold

89

Ending inventory

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 5

Chapter 18.1, Problem 16SE

To determine

To calculate: The cost of goods sold using the FIFO inventory method for the following tables,

Date of purchase

Unit purchased

Cost per unit

Total cost

Retail price per unit

Total retail value

Beginning inventory

96

$12

$18

April 12

23

$9

$13

May 8

15

$11

$17

June 2

37

$15

$21

Goods available for sale

Units sold

89

Ending inventory

Answer 6

Chapter 18.1, Problem 16SE

To determine

To calculate: The cost of goods sold using the FIFO inventory method for the following tables,

Date of purchase

Unit purchased

Cost per unit

Total cost

Retail price per unit

Total retail value

Beginning inventory

96

$12

$18

April 12

23

$9

$13

May 8

15

$11

$17

June 2

37

$15

$21

Goods available for sale

Units sold

89

Ending inventory

Answer 7

Chapter 18.1, Problem 16SE

To determine

To calculate: The cost of goods sold using the FIFO inventory method for the following tables,

Date of purchase

Unit purchased

Cost per unit

Total cost

Retail price per unit

Total retail value

Beginning inventory

96

$12

$18

April 12

23

$9

$13

May 8

15

$11

$17

June 2

37

$15

$21

Goods available for sale

Units sold

89

Ending inventory

Answer 8

Expert Solution & Answer

Answer 9

Expert Solution & Answer

Answer 10

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Answer 11

Ch. 18.1 - Prob. 1-1SC Ch. 18.1 - Prob. 1-2SC Ch. 18.1 - Prob. 1-3SC Ch. 18.1 - Prob. 1-4SC Ch. 18.1 - Prob. 2-1SC Ch. 18.1 - Prob. 2-2SC Ch. 18.1 - Prob. 2-3SC Ch. 18.1 - Prob. 2-4SC Ch. 18.1 - Prob. 3-1SC Ch. 18.1 - Prob. 3-2SC

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Chapter 18 Solutions

Date of purchase	Unit purchased	Cost per unit	Total cost	Retail price per unit	Total retail value
Beginning inventory	96	$12		$18
April 12	23	$9		$13
May 8	15	$11		$17
June 2	37	$15		$21
Goods available for sale
Units sold	89
Ending inventory