Question
ABC Company had the following purchases and sales in June. What is the ending June inventory balance using the periodic FIFO and perpetual LIFO methods?
- ABC Company had the following purchases and sales in June. What is the ending June inventory balance using the periodic FIFO and perpetual LIFO methods?
Date Action Units Cost
June 1 Beg. Inventory 100 $2
June 6 Sale 50
June 9 Purchase 200 $4
June 15 Sale 175
June 20 Purchase 100 $5
June 25 Sale 125
- ABC Company had the following purchases and sales in June. What is the ending June inventory balance using the periodic FIFO and perpetual LIFO methods?
Date Action Units Cost
June 1 Beg. Inventory 100 $2
June 6 Sale 50
June 9 Purchase 200 $4
June 15 Sale 175
June 20 Purchase 100 $5
June 25 Sale 125
- ABC Company had the following purchases and sales in June. What is the ending June inventory balance using the periodic FIFO and perpetual LIFO methods?
Date Action Units Cost
June 1 Beg. Inventory 100 $2
June 6 Sale 50
June 9 Purchase 200 $4
June 15 Sale 175
June 20 Purchase 100 $5
June 25 Sale 125
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Corporate Finance Text And Cases
Authors: Vishwanath S. R.
3rd Edition
9353282896, 978-9353282899
