Question
I need the steps to get to the answer: Rudolf Diesel Company uses a periodic inventory system. Rudolf Diesel's inventory records show the following data:
I need the steps to get to the answer:
Rudolf Diesel Company uses a periodic inventory system. Rudolf Diesel's inventory records show the following data:
Units unit cost
Inventory, January 1 10000 $9.00
Purchases: June 18 9000 8.00
November 8 6000 7.00
A physical inventory on December 31 shows 8,000 units on hand. Under the FIFO method, the December 31 inventory is:
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
