Solution-Determine physical inventory count

Determine physical inventory count

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Question - Sheffield Ltd. had a beginning inventory on January 1 of 250 units of product SXL at a cost of $159 per unit. During the year, purchases were as follows:

	Units	Unit Cost	Total Cost
Mar. 15	700	$152	$106,400
July 20	500	145	72,500
Sept. 4	450	136	61,200
Dec. 2	100	125	12,500

Sheffield uses a periodic inventory system. At the end of the year, a physical inventory count determined that there were 200 units on hand.

Reference no: EM132473029

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Determine physical inventory count

Reference no: EM132473029

Reference no: EM132473029

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