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Jan. 1 Beginning Inventory 300 units @ $9 = $2,700 July 1 Purchases 800 units @ $14 = $11,200 Total Available 1,100 units $13,900 Total
| Jan. 1 | Beginning Inventory | 300 units @ $9 = | $2,700 |
| July 1 | Purchases | 800 units @ $14 = | $11,200 |
| Total Available | 1,100 units | $13,900 | |
| Total Sales | 400 units | ||
| Dec. 31 | Ending Inventory | 700 units | ?? |
Using FIFO, compute (1) Ending Inventory (2) Cost of Goods Sold
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Advanced Audit And Assurance Study Text
Authors: KAPLAN
1st Edition
178740398X, 978-1787403987
