Question
Howard Company begins operations in October, 2021 and makes the following purchases and sales: Purchase Date Units Purchased Unit Cost November 4 1,200 $4 December
- Howard Company begins operations in October, 2021 and makes the following purchases and sales:
Purchase Date Units Purchased Unit Cost
November 4 1,200 $4
December 11 2,300 6
The year-end physical count shows 700 units on hand. Howard Company uses the periodic method and FIFO costing. What is the (a) ending inventory and (b) cost of goods sold on December 31, 2021?
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A Guide To Auditing Programmes And Projects
Authors: Andrew Schuster, APM Assurance SIG
1st Edition
191330521X, 978-1913305215
