Question
31. Cellar Company began December with 200 units of an item that cost $40 per unit. On 12/16 it purchased 600 more units at $50
31. Cellar Company began December with 200 units of an item that cost $40 per unit. On 12/16 it purchased 600 more units at $50 each. Then on 12/22 Cellar Company sold 700 of those units for a price of $90 per unit. Using FIFO and perpetual inventory costing, Ending Inventory would be
32. Cellar Company began December with 200 units of an item that cost $40 per unit. On 12/16 it purchased 600 more units at $50 each. Then on 12/22 Cellar Company sold 700 of those units for a price of $90 per unit. Using FIFO perpetual, Cost of Goods Sold would be
33. Cellar Company began December with 200 units of an item that cost $40 per unit. On 12/16 it purchased 600 more units at $50 each. Then on 12/22 Cellar Company sold 700 of those units for a price of $90 per unit. Using FIFO, Gross Profit would be
34. Cellar Company began December with 200 units of an item that cost $40 each. On 12/16 it purchased 600 more units at $50 each. Then on 12/22 Cellar Company sold 700 of those units for a price of $90 per unit. Using LIFO perpetual, Ending Inventory would be
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