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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 |
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Managerial Accounting Tools For Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
5th Canadian Edition
