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Cousins Company Had the Following Transactions for the Month of January

Question 125

Essay

Cousins Company had the following transactions for the month of January: Cousins Company had the following transactions for the month of January: Assume that Cousins uses the perpetual inventory method and that all transactions were for cash. Required: a) Prepare journal entries for the above transactions using the FIFO cost flow method. b) Determine the amount of ending inventory using the FIFO cost flow method. Assume that Cousins uses the perpetual inventory method and that all transactions were for cash.
Required:
a) Prepare journal entries for the above transactions using the FIFO cost flow method.
b) Determine the amount of ending inventory using the FIFO cost flow method.

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