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The following transactions occurred during November Units Unit Cost 5000 5200 5500 5768 Nov 2 10 Purchase 3000 15 Sold 1600 units 20 Purchase 2600
The following transactions occurred during November Units Unit Cost 5000 5200 5500 5768 Nov 2 10 Purchase 3000 15 Sold 1600 units 20 Purchase 2600 25 Sold 4000 units 26 Purchase 1000 30 Sold 800 units Total 7600 Inventory 1000 Determine the ending inventory on November 30 using the a firstin firstout FIFO b lastin first out LIFO and c weighted average cost methods
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1 As per FIFO Ending Inventory 700 units 27 per unit 200 units 26 per unit 400 units 25 per unit ...
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Financial Accounting
Authors: Robert Kemp, Jeffrey Waybright
2nd edition
978-0132771801, 9780132771580, 132771802, 132771586, 978-0133052152
