Question
Date Transactions Units Cost per Unit Total Cost June 1 Beginning inventory 16 $160 $ 2,560 June 7 Sale 11 June 12 Purchase 10 150
| Date | Transactions | Units | Cost per Unit | Total Cost |
| June 1 | Beginning inventory | 16 | $160 | $ 2,560 |
| June 7 | Sale | 11 | ||
| June 12 | Purchase | 10 | 150 | 1,500 |
| June 15 | Sale | 12 | ||
| June 24 | Purchase | 10 | 140 | 1,400 |
| June 27 | Sale | 8 | ||
| June 29 | Purchase | 9 | 130 | 1,170 |
| 2. Using FIFO, calculate ending inventory and cost of goods sold at June 30. Ending inventory Cost of goods sold
| $6,630
|
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Financial Accounting an introduction to concepts, methods and uses
Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis
13th Edition
978-0538776080, 324651147, 538776080, 9780324651140, 978-0324789003
