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a. The company began 2017 with 3,075 boxes on hand which had a cost of $5.00 each. Employees physically counted 2,393 boxes in the
a. The company began 2017 with 3,075 boxes on hand which had a cost of $5.00 each. Employees physically counted 2,393 boxes in the warehouse at the end of 2017. The company uses a perpetual FIFO inventory system to cost the inventory The following purchases (all on account) were made during 2017 Date 15-Jan 17-Mar 10-Ma 7-Oct U nits 5,331 6,899 8,002 Cost er unit s 4.95 Information about sales is as follows: Date go-Jan II-A 4 -Jun 19-Au 1 -Nov Is-Dec U nits 2,005 2,458 2,825 52499 Price 10.00 10.00 10.00 10.50 10.50 10.50 cash credit credit cash credit cash
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