A company began January with 7 , 0 0 0 units of its principal product. The cost
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Question:
A company began January with units of its principal product. The cost of each unit is $
Inventory transactions for the month of January are as follows:
Date of Purchase January January Totals Units
Purchases Unit Cost$ Total Cost$ , $ Includes purchase price and cost of freight. Sales Date of Sale January January January Total Units
units were on hand at the end of the month.
Purchases Unit Cost$ Total Cost$ , $ Includes purchase price and cost of freight. Sales Date of Sale January January January Total Units
units were on hand at the end of the month.
Required: Calculate January's ending inventory and cost of goods sold for the month using FIFO, periodic system. Fioccos of Goods Available for Sale Cost of Goods Sold Periodic FIFOEnding Inventory Periodic FIFO
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