Question
Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 540 units @ $50 $27,000 Purchases: January 10: 540
Shown below is activity for one of the products of Denver Office Equipment:
January 1 balance, 540 units @ $50 $27,000
Purchases:
January 10: 540 units @ $55
January 20: 1,020 units @ $56
Sales:
January 12: 910 units
January 28: 790 units
Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses FIFO.
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Cost Accounting
Authors: Jawahar Lal, Seema Srivastav
6th Edition
9353168384, 978-9353168384
