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Local Food Store sells organic strawberries. The Store incurred the following transactions on organic strawberries in April. Apr 1 Balance of organic strawberry: 80
Local Food Store sells organic strawberries. The Store incurred the following transactions on organic strawberries in April. Apr 1 Balance of organic strawberry: 80 lbs. at the cost of $3.00/lb. Purchased 40 lbs. at $3.60/lb. 5 8 Sold 100 lbs. at $4.00/lb. 21 Purchased 60 lbs. at $3.80/lb. 30 Sold 30 lbs. at $4.20/lb. 1. If Local Food uses FIFO inventory costing method, prepare inventory record for April. Local Food-FIFO Purchases Cost of Goods Sold Date Quantit Unit Total Quantit Cost Cost Unit Cost Cost Total Inventory on Hand Quantit Unit Total y Cost Cost Ap 1 5 8 2 21 3 0 Total
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