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During June, the following changes in inventory item 27 took place: June 1 Balance 1,490 units @ $36 14 Purchased 840 units @ $53
During June, the following changes in inventory item 27 took place: June 1 Balance 1,490 units @ $36 14 Purchased 840 units @ $53 24 Purchased 660 units @$44 8 Sold 370 units @$72 10 Sold 1.120 units @$62 29 Sold 480 units @ $65 Perpetual inventories are maintained. (a) What is the cost of the ending inventory for item 27 under the FIFO method? Cost of the ending inventory $ 13
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Financial and Managerial Accounting
Authors: Horngren, Harrison, Oliver
3rd Edition
978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978
