Question
Doe Co. had the following inventory transactions. January 1- Beginning Inventory- 600 units @ $55 / unit January 11 - Purchase February 13 Purchase-
Doe Co. had the following inventory transactions. January 1- Beginning Inventory- 600 units @ $55 / unit January 11 - Purchase February 13 Purchase- 550 units @ $56 / unit 230 units @ $57 / unit 370 units @ $58 / unit 410 units @ $59 / unit July 21 Purchase- August 5-Purchase C ammu February 15-Sales- August 10-Sales- [********] 525 units @ $100/unit 210 units @ $100/unit Required: Compute the cost assigned to ending inventory using FIFO.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
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