Question
Kam Company uses a periodic inventory system and has the following: Units Unit Cost Inventory, Jan 1. 8000 $11 Purchase, June 19. 13000 $12 Purchase,
Kam Company uses a periodic inventory system and has the following:
Units Unit Cost
Inventory, Jan 1. 8000 $11
Purchase, June 19. 13000 $12
Purchase, Nov 8. 5000 $13
If 9,000 units are on hand at December 31, the cost of the ending inventory under FIFO is: ??
Please explain and show your work.
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College Accounting A Practical Approach
Authors: Jeffrey Slater
12th edition
978-0132772068, 133468100, 013277206X, 9780133468106, 978-0133133233
