The Hat Store had the following series of transactions for Year 2. Description 35 units @ $19.50 200 units @ $23.50 160 units @ $23.50 270 units @ $24.50 330 units @ $43.00 Date January 1 March 15 May 30 August 10 November 20 Transaction Beginning inventory Purchased Sold Purchased Sold Required a. Determine the quantity and dollar amount of inventory at the end of the year, assuming The Hat Store uses the FIFO cost flow assumption and keeps perpetual records. (Round your answers to 2 decimal places.) Ending inventory units @

The Hat Store had the following series of transactions for Year 2. Description 35 units @ $19.50 200 units @ $23.50 160 units @ $23.50 270 units @ $24.50 330 units @ $43.00 Date January 1 March 15 May 30 August 10 November 20 Transaction Beginning inventory Purchased Sold Purchased Sold Required a. Determine the quantity and dollar amount of inventory at the end of the year, assuming The Hat Store uses the FIFO cost flow assumption and keeps perpetual records. (Round your answers to 2 decimal places.) Ending inventory units @

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter7: Inventories

Section: Chapter Questions

Problem 3PEA: Beginning inventory, purchases, and sales for Item Zebra 9x are as follows: Assuming a perpetual...

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