Question
The inventory transactions for XYZ Company for the month of January are included below: Date Transaction Units Cost Jan. 1 Balance 500 $2.00 Jan. 5
The inventory transactions for XYZ Company for the month of January are included below:
| Date | Transaction | Units | Cost |
| Jan. 1 | Balance | 500 | $2.00 |
| Jan. 5 | Purchase | 50 | $5.00 |
| Jan. 12 | Sell | 100 |
|
| Jan. 20 | Purchase | 150 | $3.00 |
| Jan. 25 | Sell | 50 |
|
Using FIFO determine the ending inventory for the month of January for XYZ Company based on the data presented above.
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Managerial accounting
Authors: ramji balakrishnan, k. s i varamakrishnan, Geoffrey b. sprin
1st edition
471467855, 978-0471467854
