Question
Inventory records for Eliza Company revealed the following: Date Transaction Number of Units Unit Cost March 1 Beginning Inventory 910 $ 7.25 March 10 Purchase
Inventory records for Eliza Company revealed the following:
| Date | Transaction | Number of Units | Unit Cost |
|---|---|---|---|
| March 1 | Beginning Inventory | 910 | $ 7.25 |
| March 10 | Purchase | 520 | 7.75 |
| March 16 | Purchase | 463 | 8.35 |
| March 23 | Purchase | 550 | 9.05 |
Eliza sold 1,750 units of inventory during the month. Ending inventory assuming FIFO would be:
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Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
3rd Edition
9780078025525, 9780077517359, 77517350, 978-0077398194
