Question
A company has a beginning inventory of 12 units at $13 each on Oct 1. On Oct 5 it purchased 12 units at $14 per
A company has a beginning inventory of 12 units at $13 each on Oct 1. On Oct 5 it purchased 12 units at $14 per unit. On the 12th it purchased 22 units at $15 per unit. On Oct 15, it sold 36 units. Using FIFO periodic inventory method, what is the value of the inventory at Oct 15th after the sale?
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
12th Edition
978-0073526706, 9780073526706
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