Question
Determine the cost of merchandise sold for the transaction on October 25 using the perpetual inventory system and the FIFO method. Date Item Units Cost
Determine the cost of merchandise sold for the transaction on October 25 using the perpetual inventory system and the FIFO method.
Date Item Units Cost Total
Oct. 1 Inventory 5 $10 $50
4 Purchase 8 12 96
8 Sale 6
20 Purchase 15 13 135
25 Sale 12
a.$149
b.$195
c.$146
d.$156
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
