Question
The inventory records for Radford Co. reflected the following: Beginning inventory @ May 1 2,000 units @ $5.60 First purchase @ May 7 2,100 units
The inventory records for Radford Co. reflected the following:
Beginning inventory @ May 1 2,000 units @ $5.60
First purchase @ May 7 2,100 units @ $5.80
Second purchase @ May 17 2,300 units @ $5.90
Third purchase @ May 23 1,900 units @ $6.00
Sales @ May 31 6,300 units @ $7.50
What is the amount of ending inventory assuming the FIFO cost flow method?
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Managerial Accounting For Managers
Authors: Eric Noreen, Peter Brewer, Ray Garrison
6th Edition
1264100590, 9781264100590
