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The following information to the sales and purchase of Ureka Hardware Company for the period September through December of year 2003. Sales: September 4:
The following information to the sales and purchase of Ureka Hardware Company for the period September through December of year 2003. Sales: September 4: October 12: November 12: December 10: 40,000 units @ Tk.40.OO per unit, gross sales price 20,000 units @ Tk.42.OO per unit, gross sales price 30,000 units @ Tk.48.OO per unit, gross sales price 10,000 units @ Tk.48.5 per unit, gross sales price. Sales discounts for the period were Tk.4 000. Purchases September 1: 100,000 units @ Tk.32.OO per unit November 10: 35,000 units @ Tk.30.OO per unit December 1: 30,000 units @ Tk.30.5 per unit Ureka began the period with an inventory on hand of 10,000 units @ Tk.30.OO per unit. Ureka follows the First-ln, First-Out method of inventory costing under the perpetual inventory
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