Question
1.In 20X9, KBH Corp. sells 6,800 units $70 each. It began the year with an inventory of 750 units at $22 each and made the
1.In 20X9, KBH Corp. sells 6,800 units $70 each. It began the year with an inventory of 750 units at $22 each and made the following purchases:
March 17Purchase2,600 units @ $24 per unit
June 15Purchase300 units @ $25 per unit
Sept. 4Purchase1,500 units @ $28 per unit
Dec. 23Purchase2,200 units @ $30 per unit
If KBH uses the periodic method and FIFO costing, what is KBH's:
- ending inventory?
- cost of goods sold?
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
