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Current Attempt in Progress Pronghorn Corporation began operations on December 1, 2019. The only inventory transaction in 2019 was the purchase of inventory on December
Current Attempt in Progress Pronghorn Corporation began operations on December 1, 2019. The only inventory transaction in 2019 was the purchase of inventory on December 10, 2019, at a cost of $21 per unit. None of this inventory was sold in 2019. Relevant information for fiscal 2020 is as follows: Ending Inventory units: 150 December 31, 2019 December 31, 2020, by purchase date -Dec. 2, 2020 --July 20, 2020 150 31 181 During 2020, the following purchases and sales were made: Purchases Mar. 15 July 20 Sept. 4 Dec 2. 390 units at $26 390 units at $27 270 units at $28 150 units at $32 Sales Apr. Aug Nov. Dec 10 20 200 270 180 519 18 12 The company uses the periodic inventory method. Current Attempt in Progress Pronghorn Corporation began operations on December 1, 2019. The only inventory transaction in 2019 was the purchase of inventory on December 10, 2019, at a cost of $21 per unit. None of this inventory was sold in 2019. Relevant information for fiscal 2020 is as follows: Ending Inventory units: 150 December 31, 2019 December 31, 2020, by purchase date -Dec. 2, 2020 --July 20, 2020 150 31 181 During 2020, the following purchases and sales were made: Purchases Mar. 15 July 20 Sept. 4 Dec 2. 390 units at $26 390 units at $27 270 units at $28 150 units at $32 Sales Apr. Aug Nov. Dec 10 20 200 270 180 519 18 12 The company uses the periodic inventory method
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