Question
Logan Company uses a perpetual inventory system on a FIFO basis. Assuming inventory on January 1 was 800 units at $8 each. Received Sold Date
Logan Company uses a perpetual inventory system on a FIFO basis. Assuming inventory on January 1 was 800 units at $8 each.
| Received | Sold | |||
| Date | Quantity | Cost per unit | Date | Quantity |
| Apr. 15 | 220 | $5 | Mar. 8 | 500 |
| Nov. 12 | 1,900 | 9 | Oct. 5 | 200 |
| | ||||
What is the cost of ending inventory at the end of October 5?
Ending inventory $
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Audit Findings Of RAC MAC HAC And PSI Review Process
Authors: Mrs. Jyoti Sharma
1st Edition
1511689609, 978-1511689601
