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Below are the merchandise transactions of Yellow Company for the month of January 2019. January 1, 2019 Beginning Inventory, 2.400 units purchased at 6TL per
Below are the merchandise transactions of Yellow Company for the month of January 2019.
January 1, 2019 | Beginning Inventory, 2.400 units purchased at 6TL per unit. |
January 5, 2019 | Purchased 2.400 units at 8TL per unit. |
January 10, 2019 | Purchased 4.800 units at 9TL per unit. |
January 15, 2019 | Sold 7.680 units for 11TL (sale price) per unit. |
January 20, 2019 | Purchased 1.920 units at 10TL per unit. |
January 25, 2019 | Sold 2.400 units for 13TL per unit. |
Required: Under First In First Out - FIFO
- Gross Margin,
- Cost of Goods Sold,
- Cost of Ending Inventory.
Please copy paste the table (inventory card) given below and solve the question using the table.
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