Drill Problem 15-3 (Algo) [LU 15-1 (2)]Given the following:January 1 InventoryApril 1June 1November 1Cost of ending inventoryNumberpurchased5171Cost of goods sold6166249Cost per unit67Total$ 153426427Required:a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 72 units).$ 1,834b. Calculate the cost of goods sold using the FIFO (ending inventory shows 72 units).

Name: Drill Problem 15-3 (Algo) [LU 15-1 (2)]Given the following:January 1
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Description: Drill Problem 15-3 (Algo) [LU 15-1 (2)]Given the following:January 1 InventoryApril 1June 1November 1Cost of ending inventoryNumberpurchased5171Cost of goods sold6166249Cost per unit67Total$ 153426427Required:a. Calculate the cost of ending inventor

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Drill Problem 15-3 (Algo) [LU 15-1 (2)] Given the following: January 1 Inventory April 1 June 1 November 1 Cost of ending inventory Number purchased 51 71 Cost of goods sold 61 66 249 Cost per unit 6 7 Total $ 153 426 Required: a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 72 units). 427 $ 1,834 b. Calculate the cost of goods sold using the FIFO (ending inventory shows 72 units).

Drill Problem 15-3 (Algo) [LU 15-1 (2)] Given the following: January 1 Inventory April 1 June 1 November 1 Cost of ending inventory Number purchased 51 71 Cost of goods sold 61 66 249 Cost per unit 6 7 Total $ 153 426 Required: a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 72 units). 427 $ 1,834 b. Calculate the cost of goods sold using the FIFO (ending inventory shows 72 units).

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter6: Inventories

Section: Chapter Questions

Problem 6.2BE: Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as...

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