Question
Logan Company uses a perpetual inventory system on a FIFO basis. Assuming inventory on January 1 was 1,160 units at $7.70 each. Received Sold Date
Logan Company uses a perpetual inventory system on a FIFO basis. Assuming inventory on January 1 was 1,160 units at $7.70 each.
| Received | Sold | |||
| Date | Quantity | Cost per unit | Date | Quantity |
| Apr. 15 | 190 | $4.70 | Mar. 8 | 590 |
| Nov. 12 | 1,870 | 8.70 | Oct. 5 | 290 |
What is the cost of ending inventory at the end of October 5?
Ending inventory $
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Options Futures And Other Derivatives
Authors: John Hull
9th Global Edition
1292212896, 9781292212890
