Question
Company D reported the following information Units Units Cost Units Sold Beginning inventory (Jan. 1) 3 $300 Purchase (Feb.1) 4 305 Sale (Mar. 1) 5
Company D reported the following information
| Units | Units Cost | Units Sold | |
| Beginning inventory (Jan. 1) | 3 | $300 | |
| Purchase (Feb.1) | 4 | 305 | |
| Sale (Mar. 1) | 5 | ||
| Purchase (Apr. 15) | 3 | 308 | |
| Sale (June 22) | 4 | ||
| Purchase (Oct. 11) | 2 | 312 |
The company sells its products for $400. All purchases and sales by Company D are made on the account. Calculate the cost of goods sold and ending inventory using perpetual FIFO. Record the journal entries.
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Essentials Of Cost Accounting For Health Care Organizations
Authors: Steven Finkler, Judith Baker, David Ward
3rd Edition
0810235447, 9780763738136
