Question
A company's inventory records indicate the following data for the month of April: April 1 Beginning 350 units at $18 each April 5 Purchase 290
A company's inventory records indicate the following data for the month of April:
April 1 Beginning 350 units at $18 each
April 5 Purchase 290 units at $20 each
April 9 Sale 500 units at $55 each
April 14 Purchase 250 units at $22 each
April 20 Sale 200 units at $55 each
April 30 Purchase 240 units at $25 each
If the company uses the first-in, first-out (FIFO) method and the perpetual inventory system, what would be the cost of the ending inventory?
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Managerial Accounting
Authors: Karen Braun, Wendy Tietz, Louis Beaubien
4th Canadian Edition
013544344X, 9780135443446
