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Company uses a perpetual inventory system. The January 2018 inventory information is as follows. Assume cash purchases and sales. DATA Units Per Unit Jan 1
Company uses a perpetual inventory system. The January 2018 inventory information is as follows. Assume cash purchases and sales. DATA Units Per Unit Jan 1 Inventory on hand1,000S Jan 3 Jan 6 Jan 15 Jan 22 3,000 750 5,000 Sale 10 Sale 10 Post. Ref Date 03 to record purchase of3,000 units ofinventory at 55 per unit to record sale of 2,750 units at $10per unit to record FIFO cost of 2,7 750 units of inventory sold 500sS orecons d500ws as$10 each. orontFFOcostof 4.500wwsotiany Journal entries FIFO, LIFO and Wt. Avg Thanks
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