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During June, the following changes in inventory item 27 took place: June 1 Balance 1,470 units @ $37 14 Purchased 890 units @ $56
During June, the following changes in inventory item 27 took place: June 1 Balance 1,470 units @ $37 14 Purchased 890 units @ $56 24 Purchased 680 units @ $44 8 Sold 360 units @ $70 10 Sold 1,110 units @ $63 29 Sold 450 units @ $65 Perpetual inventories are maintained. (a) What is the cost of the ending inventory for item 27 under the FIFO method?
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Accounting Business Reporting For Decision Making
Authors: Jacqueline Birt, Keryn Chalmers, Albie Brooks, Suzanne Byrne, Judy Oliver
4th Edition
978-0730302414, 0730302415
