Question
Dutton Corporation has provided the following information about one of its inventory items: Date Transaction No. of Units Cost per Unit 1/1 Beginning Inventory 400
Dutton Corporation has provided the following information about one of its inventory items:
Date Transaction No. of Units Cost per Unit
1/1 Beginning Inventory 400 $3,200
6/6 Purchase 800 $3,600
9/10 Purchase 1,200 $4,000
11/15 Purchase 800 $4,200
During the year, Dutton sold 3,000 units.
What was ending inventory using the FIFO cost flow assumption?
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Think Like A Millionaire Auditor How To Build Practical Efficiency Increase Revenue And Experience Peace Of Mind That Will Transform Your Business Leadership And Life
Authors: Michael J. Harrison
1st Edition
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