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Required: 1 . Using FIFO, calculate ending inventory and cost of goods sold. Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning
Required:
Using FIFO, calculate ending inventory and cost of goods sold.
| Date | Transaction | Number of Units | Unit Cost | Total Cost |
| Jan. 1 | Beginning inventory | $5 | $5610 | |
| April. 9 | Purchase | 133 | $504 | $550 |
| October. 4 | Purchase | $32044 | $15480 | |
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Step: 1
To calculate the ending inventory and cost of goods sold using the FIFO FirstInFirstOut method we n...
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Step: 2
Step: 3
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Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
23rd Edition
978-0324662962
