TB Problem 8-148 (Algo) Shown below is activity for... Shown below is activity for one of...

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TB Problem 8-148 (Algo) Shown below is activity for... Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 630 units $55 per unit $34,650 Purchases: January 10: 630 units $60 per unit January 20: 1,260 units @ $62 per unit Sales: January 12: 900 units January 28: 770 units Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses FIFO. Ending inventory Cost of goods sold $ 51,000 $ 99,570 TB Problem 8-148 (Algo) Shown below is activity for... Shown below is activity for one of the products of Denver Office Equipment: January 1 balance, 630 units $55 per unit $34,650 Purchases: January 10: 630 units $60 per unit January 20: 1,260 units @ $62 per unit Sales: January 12: 900 units January 28: 770 units Required: Compute the January 31 ending inventory and cost of goods sold for January, assuming Denver uses FIFO. Ending inventory Cost of goods sold $ 51,000 $ 99,570

Answer rating: 100% (QA)

To calculate the ending inventory and cost of goods sold COGS using the FIFO FirstInFirstOut method ... View the full answer