Question
Marked out of ABC Company has a beginning inventory of 600 units at $9 per unit. The following purchases are made during the year 2020:
Marked out of ABC Company has a beginning inventory of 600 units at $9 per unit. The following purchases are made during the year 2020: Units Per Unit March 1 400 %$11 June 10 600 12 October 25 300 14 December 14 500 15 Total 1,800 Ending inventory on December 31 is 550 units. Required: the cost of ending inventory on December 31, 2020, using the FIFO method is:
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Financial Accounting For MBAs
Authors: Peter D. Easton, John J. Wild, Robert F. Halsey, Mary Lea McAnally
4th Edition
9781934319345
