Question
Assume the following beginning inventory, purchases, and sales during the month of April: April 1 Beginning Merchandise Inventory, 10 units @ $20 each April 3-
Assume the following beginning inventory, purchases, and sales during the month of April: April 1 Beginning Merchandise Inventory, 10 units @ $20 each
April 3- 8 units sold
April 10 - Purchased 9 units at $21
April 23- 4 units sold
Determine the Cost of Goods Sold using the FIFO inventory costing method and the periodic inventory system on April 30.
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Financial Accounting An International Introduction
Authors: David Alexander
7th Edition
129229583X, 978-1292295831
