SBA Inc. use wood (raw material) for its production line #2. Its beginning inventory on January 1st, 2020, is 100 units purchased at $320. SBA Inc. has purchased during 2020 the following items: March 1st 50 units at $347 July 1st 200 units at $343 October 1st : 100 units at $346 SBA Inc. has sold during 2020 the following items: ✓ ● ● . : ● : April 1 100 units September 1 : 230 units The ending inventory of the company is (in terms of quantity) : 100+50 100 + 200 230 + 100 = 120 units Required: as of the end of October 2020. 1 Use the three costing methods for the valuation of inventory

SBA Inc. use wood (raw material) for its production line #2. Its beginning inventory on January 1st, 2020, is 100 units purchased at $320. SBA Inc. has purchased during 2020 the following items: March 1st 50 units at $347 July 1st 200 units at $343 October 1st : 100 units at $346 SBA Inc. has sold during 2020 the following items: ✓ ● ● . : ● : April 1 100 units September 1 : 230 units The ending inventory of the company is (in terms of quantity) : 100+50 100 + 200 230 + 100 = 120 units Required: as of the end of October 2020. 1 Use the three costing methods for the valuation of inventory

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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