Question
Tomasino's inventory records show the following data at January 31: Beginning inventory Jan. 1 100 units at $5 per unit Jan. 10 purchase 270 units
Tomasino's inventory records show the following data at January 31:
| Beginning inventory Jan. 1 | 100 units at$5 per unit |
| Jan. 10 purchase | 270 units at$12 per unit |
| Jan. 22 purchase | 130 units at$13 per unit |
At January 31,
230
units are still on hand. What is the cost of the ending inventory at January 31 if Tomasino uses the FIFO method?
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Auditing And Assurance Services
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley
12th Edition
0136128270, 9780136128274
