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How do I find the goods available for sale snd ending inventory in a FIFO Periodic? The following are the transactions for the month of
How do I find the goods available for sale snd ending inventory in a FIFO Periodic?
The following are the transactions for the month of July. Units Unit Cost Unit Selling Price July 1 Beginning Inventory 56 $10 July 13 Purchase 280 13 July 25 Sold (100) $15 July 31 Ending Inventory 236 Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross prot, under FIFO. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.) Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Units from Beginning Inventory E $ 10.00 Units from July 13 Purchase 3; 13.00 Total Cost of Goods Sold Ending Inventory Sales Cost of Goods Sold Gross ProtStep by Step Solution
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