Question
Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 550 units @ $60 $33,000Purchases:January 10:550 units @ $65January
Shown below is activity for one of the products of Denver Office Equipment:
January 1 balance, 550 units @ $60 $33,000Purchases:January 10:550 units @ $65January 20:1,100 units @ $57Sales:January 12:950 unitsJanuary 28:800 units
Required:
Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses LIFO and a perpetual inventory system.
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Forensic Accounting And Fraud Examination
Authors: Paul Barnes
1st Edition
1118454138, 978-1118454152
