Question
Using FIFO, calculate ending inventory and cost of goods sold. FIFO Beginning Inventory Purchases: Ending Inventory Cost of Goods Available for Sale Cost of
Using FIFO, calculate ending inventory and cost of goods sold. FIFO Beginning Inventory Purchases: Ending Inventory Cost of Goods Available for Sale Cost of Goods Sold Number of units Cost per unit Cost of Goods Available Number of units Cost per unit Cost of Goods Sold Number of units for Sale 40 $ 32 $ 1,280 $ 32 $ 0 April 07 120 69 $ 34 4,080 69 $ 34 0 July 16 190 $ 37 7,030 $ 37 0 October 06 100 $ 38 3,800 $ 38 88 0 Total 450 $ SA 16,190 Ending Cost per unit Inventory
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Financial Accounting
Authors: David Spiceland, Wayne M. Thomas, Don Herrmann
5th edition
1259914895, 978-1259914898
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