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Cost & Mood) Sample problem 2 Prepare the necessary accounts by using First-in, First-out (Periodicinventory system) Salo Jan 1 Beginventory Jan 2 Purchase Jan 11
Cost & Mood) Sample problem 2 Prepare the necessary accounts by using First-in, First-out (Periodicinventory system) Salo Jan 1 Beginventory Jan 2 Purchase Jan 11 Purchase Jan 18 Purchase Total Purchases Units 300 200 100 300 900 Cost 10 15 17 20 Amount $3.000 $3.000 $1,700 $6.0001 $13,700 Jan 1 Beg Inventory Jan 2 Purchase Jan 11 Purchase Cost of Good Sold Units 300 200 50 550 Cost 10 15 17 Amount $3,000 $3.000 $850 $6,850 Units Sales Price 30 40 Jan 8 Sales Jan 15 Sale Total Sales 300 250 550 Sales Amount $9.000 $10,000 $19,000 Jan 11 Purchase Jan 18 Purchase Ending Inventory 50 300 350 17 20 $850 $6,000 $6,850
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