Question
At December 31, 2019 CROWD Co. has the following inventory information for 2019. CROWD Co. Date Units $/Unit $/Total Beginning Inventory 100 $ 5,25 525,00
At December 31, 2019 CROWD Co. has the following inventory information for 2019.
CROWD Co.
Date Units $/Unit $/Total
Beginning Inventory 100 $ 5,25 525,00
Purchases:
Jan. 3 300 5,30 1.590,00 2
June 20 150 5,60 840,00
Sept. 15 200 5,80 1.160,00
Nov. 29 150 5,90 885,00
Goods Available for Sale ? ?
Ending Inventory 350 ?
Cost of Goods Sold ? ?
Required : The company is using periodic inventory method and FIFO. Calculate the following indicated as ? in the above table:
a) Goods available for sale in number of units
b) Value ($ amount) of goods available for sale
c) Ending inventory in number of units
d) Value ($ amount) of ending inventory
e) Cost of good sold in number of units
f) Value ($ amount) of COGS
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