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Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159 Exercise 59
A Perpetual inventory using FIFO
Beginning inventory, purchases, and sales for Item ProX2 are as follows:
Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on January 25 and (b) the inventory on January 31.
B Perpetual inventory using FIFO
Beginning inventory, purchases, and sales for Item Delta are as follows:
Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on July 24 and (b) the inventory on July 31.
Beginning inventory, purchases, and sales for Item ProX2 are as follows:
Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on January 25 and (b) the inventory on January 31.
B Perpetual inventory using FIFO
Beginning inventory, purchases, and sales for Item Delta are as follows:
Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of merchandise sold on July 24 and (b) the inventory on July 31.
Explanation
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2A.
a)Determination of cost of merchand...
Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
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