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Amalgam uses a perpetual inventory system. The following is a record of purchasing and sales data for model cars, their most popular product, for March
Amalgam uses a perpetual inventory system. The following is a record of purchasing and sales data for model cars, their most popular product, for March 2020:
Required: Under the FIFO, compute: The Ending Inventory on March 31?
Beginning Inventory: 350@$160 Purchases: \begin{tabular}{llll} \hline Purchases: & 200@$180 & Sales: & \\ \hline March 1 & 200@$200 & March 8 & 300@$275 \\ March 6 & 220@$175 & March 17 & 200@$280 \\ March 12 & 250@$100 & & \\ March 29 & 100@$205 & & \end{tabular}
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