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This is FIFO method. So from where 50 comes from? What are the calculations? COST OF GOODS AVAILABLE FOR SALE Total Cost Unit Cost Units
This is FIFO method. So from where 50 comes from? What are the calculations?
COST OF GOODS AVAILABLE FOR SALE Total Cost Unit Cost Units Explanation Date 1,000 $10 100 Beginning inventory Jana 2,200 200 Apr. 15 Purchase 3,600 12 300 Aug. 24 Purchase 5,200 13 400 Nov 27 Purchase $12,000 1,000 Total STEP 2: COST OF GOODS SOLD STEP 1: ENDING INVENTORY Units Total Cost Units Cost Date Nov 27 400 $13 5,200 cost of goods available for sale $12,000 Aug. 24 50 12 600 Less: Ending inventory 5,800 6,200 $5,800 Cost of goods sold Total 450 Cost of $1,000 goods sold $6,200 $2,200 $3,000 Warehouse $600 $5,800 $5.200 Ending inventory l Step by Step Solution
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