Question
Easy Gen Company's inventory records contained the following information regarding its latest generator model. The company uses a periodic inventory system. Beginning inventory, January 1,
Easy Gen Company's inventory records contained the following information regarding its latest generator model. The company uses a periodic inventory system.
| Beginning inventory, January 1, 2020 | 620 | units @ $75 each |
| Purchases: | ||
| January 15 | 1,260 | units @ $90 each |
| January 21 | 1,270 | units @ $95 each |
| January 28 | 1,440 | units @ $100 each |
| Ending units | 1,200 | |
Required: Compute cost of goods sold for January using the FIFO method.
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Accounting Reform In Transition And Developing Economies
Authors: Robert W. McGee
1st Edition
0387257071, 9780387257075
