Question
A business has bought and sold identical items of inventory during 2019 as follows: 01/06/2019: Bought 1,500 units @ 18 each 01/08/2019: Bought 1,200 units
A business has bought and sold identical items of inventory during 2019 as follows:
01/06/2019: Bought 1,500 units @ 18 each 01/08/2019: Bought 1,200 units @ 16 each 25/09/2019: Sold 1,535 units @ 40 each
Using the first in first out method what is the value of the units of inventory left unsold at 26/09/2019?
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Principles Of Accounting Volume 1 Financial Accounting
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
1st Edition
1593995946, 978-1593995942
