Question
A company's inventory records report the following: August 1 Beginning balance 31 units @ $21 August 5 Purchase 26 units @ $20 August 12 Purchase
A company's inventory records report the following:
August 1 Beginning balance 31 units @ $21
August 5 Purchase 26 units @ $20
August 12 Purchase 30 units @ $21
On August 15, it sold 62 units. Using the FIFOperpetualinventory method, what is the value of the inventory at August 15 after the sale?
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Corporate Financial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
15th Edition
978-1337398169
