EBK FINANCIAL ACCOUNTING: AN INTRODUCTI
14th Edition
ISBN: 8220100453953
Author: Francis
Publisher: YUZU
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Compute the net income or net loss for the month ended on March 31,
2008, from the following data:
Assets on March 1, 2008
$ 40,000
Liabilities on March 1, 2008,
30,000
Capital on March 31, 2008,
15,000
Additional investments by the owner during the year 2008
2,000
Withdrawals during the year 2008
1,000
A. $3,000
B. $4,000
C. $5,000
D. $6,000
Mountain Bikes purchased 100 units at $200 each on January 1. On January 15, they purchased 150 units at $220 each. If they sold 180 units during January, calculate the ending inventory value using FIFO method.
Please given correct answer general accounting
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