Question
The Snowboarding Company provided the following information for one of its top-selling snowboards: Date Item Units Amount Sale Nov. 1 Beginning inventory 26 $197 5
The Snowboarding Company provided the following information for one of its top-selling snowboards: Date Item Units Amount Sale Nov. 1 Beginning inventory 26 $197 5 Sale (12) $340 12 Purchase 65 210 16 Sale (50) $355 19 Purchase 38 215 22 Sale (62) $370 26 Purchase 40 216 Calculate the cost of goods sold and ending inventory using FIFO. Write the journal entries for November 12, 16, 22.
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Intermediate Accounting
Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones
11th edition
978-0538467087, 9781111781262, 538467088, 1111781265, 978-0324659139
