Question
10. A companys inventory records report the following: August 1 Beginning balance 18 units @ $8 August 5 Purchase 13 units @ $7 August 12
10.
A companys inventory records report the following:
| August 1 | Beginning balance | 18 units @ $8 |
| August 5 | Purchase | 13 units @ $7 |
| August 12 | Purchase | 17 units @ $8 |
| On August 15, it sold 36 units. Using the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale? |
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Fundamental Accounting Principles Volume 1
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
15th Canadian Edition
1259259803, 978-1259259807
