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Three identical units of Item A are purchased during February, as shown below. Item A Units Cost Feb. 8 Purchase 1 $45 Feb. 15 Purchase
Three identical units of Item A are purchased during February, as shown below. Item A Units Cost Feb. 8 Purchase 1 $45 Feb. 15 Purchase 1 $48 Feb. 26 Purchase $51 Total 3 $144 Average Cost per Unit $48 ($144/3 units) Assume one Item A is sold on February 27 for $70. What is the ending inventory on February 28 using FIFO? $99 $93 $96 QUESTION 19 Which of the following is NOT added into Retained Earnings? Total paid-in-capital O Shares sold O Treasury stock
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