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Robbins Company Uses the Perpetual Inventory System and the FIFO

Question 108

Essay

Robbins Company uses the perpetual inventory system and the FIFO cost formula. Robbins Company uses the perpetual inventory system and the FIFO cost formula. Instructions a. Using the inventory and sales data above, calculate the value assigned to cost of goods sold in March and to the ending inventory at March 31. b. Prepare the journal entries to record the sales on March 4 and March 19. All sales are made on credit. Instructions
a. Using the inventory and sales data above, calculate the value assigned to cost of goods sold in March and to the ending inventory at March 31.
b. Prepare the journal entries to record the sales on March 4 and March 19. All sales are made on credit.

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a.
blured image Ending Inventory: $8,600
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