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Susan. uses FIFO to cost its inventory. The following information is available for Susan's inventory of product # 100: Beginning inventory: 240 units @ $6.28
Susan. uses FIFO to cost its inventory. The following information is available for Susan's inventory of product # 100: Beginning inventory: 240 units @ $6.28 per unit March 1: Purchase of 500 units @ $7.00 per unit April 10: Sale of 200 units @ $10.20 per unit Assuming Susan uses the periodic inventory system, the entry to account for the March 1 purchase is
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