Reference no: EM133187009
Question - The following data were taken from the accounting records of Wrecking Balls, Inc
Balance at January 1, 2022; 5,000 balls @ P20
Purchases:
January 10, 2022; 3,200 balls @ P25
January 15, 2022; 5,000 balls @ P28
Sales:
January 5, 2022; 4,500 balls
January 20, 2022; 5,200 balls
If Wrecking Ball uses a periodic inventory system, determine the cost of the inventory using first-in, first-out cost flow assumption at January 31, 2022?
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