Solution-What was ending inventory using the fifo cost flow

What was ending inventory using the fifo cost flow

Reference no: EM132082108

Question - A company uses the periodic inventory system and has provided the following information about one of its laptop computers:

Date	Transaction	Number of Units	Cost per Unit
1/1	Beginning inventory	400	$ 200
4/14	Purchase	300	$ 100
9/20	Purchase	700	$ 300
11/5	Purchase	200	$ 100

During the year, the company sold 1,100 laptop computers.

What was ending inventory using the FIFO cost flow assumption?

Reference no: EM132082108

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What was ending inventory using the fifo cost flow

Reference no: EM132082108

Reference no: EM132082108

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Accounting Basics Questions & Answers

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Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

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