Question
Transactions for the month of June were: Purchases Sales June 1 (balance) 2,300@ $1.00 June 2 1,500 @ $3.50 3 5,700 @ 0.90 6 4,200
Transactions for the month of June were:
Purchases Sales June 1 (balance) 2,300@ $1.00 June 2 1,500 @ $3.50
| 3 | 5,700 @ | 0.90 | 6 | 4,200 @ | 3.50 |
| 7 | 4,600 @ | 1.10 | 9 | 3,400 @ | 3.50 |
| 15 | 7,000 @ | 1.20 | 10 | 1,500 @ | 4.00 |
| 22 | 1,400 @ | 1.30 | 18 | 5,200 @ | 4.00 |
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| 25 | 400 @ | 4.00 |
Assuming that periodic inventory records and perpetual invengory records are kept in dollars, the ending inventory on a LIFO basis is?
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Fraud In Accounts Payable How To Prevent It
Authors: Mary S. Schaeffer
1st Edition
0470260459, 978-0470260456
