Question
Calculate COGS and Ending Inventory using a periodic FIFO inventory cost flow system: # of Units Cost per Unit 1/1/2018 Beginning Inventory 500 $8 1/2/2018
Calculate COGS and Ending Inventory using a periodic FIFO inventory cost flow system:
|
|
| # of Units | Cost per Unit |
| 1/1/2018 | Beginning Inventory | 500 | $8 |
| 1/2/2018 | Purchase | 300 | $9 |
| 1/6/2018 | Sale | 300 |
|
| 1/11/2018 | Purchase | 300 | $10 |
| 1/15/2018 | Sale | 200 |
Cost of Goods Sold:
Ending Inventory Balance:
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Fundamental accounting principle
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
21st edition
1259119831, 9781259311703, 978-1259119835, 1259311708, 978-0078025587
