quired information [The following information applies to the questions displayed below.] A company began January with 8,000 units of its principal product. The cost of each unit is $7. Inventory transactions for the month of January are as follows: Date of Purchase Purchases Units Unit Cost*Footnote asterisk Total Cost January 10 6,000 $ 8 $ 48,000 January 18 8,000 9 72,000 Totals 14,000 $ 120,000 *Footnote asterisk Includes purchase price and cost of freight. Sales Date of Sale Units January 5 4,000 January 12 2,000 January 20 5,000 Total 11,000
quired information [The following information applies to the questions displayed below.] A company began January with 8,000 units of its principal product. The cost of each unit is $7. Inventory transactions for the month of January are as follows: Date of Purchase Purchases Units Unit Cost*Footnote asterisk Total Cost January 10 6,000 $ 8 $ 48,000 January 18 8,000 9 72,000 Totals 14,000 $ 120,000 *Footnote asterisk Includes purchase price and cost of freight. Sales Date of Sale Units January 5 4,000 January 12 2,000 January 20 5,000 Total 11,000
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter6: Inventories
Section: Chapter Questions
Problem 4BE: Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory...
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[The following information applies to the questions displayed below.]
A company began January with 8,000 units of its principal product. The cost of each unit is $7. Inventory transactions for the month of January are as follows:
Date of Purchase | Purchases | ||
---|---|---|---|
Units | Unit Cost*Footnote asterisk | Total Cost | |
January 10 | 6,000 | $ 8 | $ 48,000 |
January 18 | 8,000 | 9 | 72,000 |
Totals | 14,000 | $ 120,000 |
*Footnote asterisk Includes purchase price and cost of freight.
Sales | |
Date of Sale | Units |
---|---|
January 5 | 4,000 |
January 12 | 2,000 |
January 20 | 5,000 |
Total | 11,000 |
11,000 units were on hand at the end of the month.
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