Question
Please provide Typed answer: Lauer Corporation uses the periodic inventory system and has provided the following information about one of their laptop computers: Date Transaction
Please provide Typed answer:
Lauer Corporation uses the periodic inventory system and has provided the following information about one of their laptop computers:
| Date | Transaction | Number of Units | Cost per Unit |
| 1/1 | 100 | $800 | |
| 5/5 | Purchase | 200 | $900 |
| 8/10 | Purchase | 300 | $1,000 |
| 10/15 | Purchase | 200 | $1,100 |
During the year, 750 laptop computers were sold. What was ending inventory using the FIFO cost flow assumption?
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Survey of Accounting
Authors: Carl S Warren
6th edition
978-113318912, 1133189121, 978-1133189121
