COLLEGE ACCOUNTING
13th Edition
ISBN: 9780357531846
Author: Scott
Publisher: CENGAGE L
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Chapter C, Problem 2P
Use the information presented in Problem C-1 to solve this problem.
Bean Nursery sells bark to its customers at retail. Bean buys bark from a plywood mill in bulk and transports the bark in its own trucks. Information relating to the beginning inventory and purchases of bark is as follows:
Required
Find the cost of the ending inventory by the first-in, first-out method.
Check Figure
Cost of ending inventory, $562
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