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Masks for Heroes had the following information available for April 2020: Beg Inventory 5000 units @ a cost of $1/unit April 5 Purchased 1000 units
Masks for Heroes had the following information available for April 2020: Beg Inventory 5000 units @ a cost of $1/unit April 5 Purchased 1000 units @ a cost of $1.2/unit, 10/10, n/60 April 12 Purchased 2000 units @ a cost of $1.5/unit, 10/10,n/60 April 15 Sold 3000 Units @ a price of $3/unit on credit. April 20 Paid for the April 5th purchase. April 21 Paid for the April 15th purchase Prepare journal entries for April 15th assuming the company uses the FIFO method of inventory valuation
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