Activities Beginning inventory Date August 1 August 5 August 10 August 15 August 25 Purchase Sale Purchase. Sale Use the above information to calculate ending inventory using FIFO for a company that uses a perpetual inventory system. August 1 Date August 5 Total August 5 August 10 August 15 Total August 15 August 25 Total August 25 Units Acquired at Cost Units Sold at Retail 260 units $10-$2,600 200 units @ $12 = $2,400 230 units @ $13 - $2,990 Goods purchased Number of Cost per units unit Number of units sold Cost of Goods Sold Cost per unit Cost of Goods Sold 220 units sold 210 units sold Number of units Inventory Balance Cost per unit Inventory Balance
Activities Beginning inventory Date August 1 August 5 August 10 August 15 August 25 Purchase Sale Purchase. Sale Use the above information to calculate ending inventory using FIFO for a company that uses a perpetual inventory system. August 1 Date August 5 Total August 5 August 10 August 15 Total August 15 August 25 Total August 25 Units Acquired at Cost Units Sold at Retail 260 units $10-$2,600 200 units @ $12 = $2,400 230 units @ $13 - $2,990 Goods purchased Number of Cost per units unit Number of units sold Cost of Goods Sold Cost per unit Cost of Goods Sold 220 units sold 210 units sold Number of units Inventory Balance Cost per unit Inventory Balance
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter6: Inventories
Section: Chapter Questions
Problem 6.2BE: Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as...
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August 1 Date August 1 August 5 August 10 August 15 August 25 Activities Beginning inventory Purchase Sale Purchase Sale 220 units sold 210 units sold Use the above information to calculate ending inventory using FIFO for a company that uses a perpetual inventory system. August 5 Date Total August 5 August 10 August 15 Total August 15 August 25 Total August 25 Units Acquired at Cost 260 units @ $10 = $2,600 200 units @ $12= $2,400 230 units @ $13= $2,990. Goods purchased Number of Cost per units unit Number of units sold Units Sold at Retail Cost of Goods Sold Cost per unit Cost of Goods Sold Number of units Inventory Balance Cost per unit Inventory Balance
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