The following inventory transactions apply to Green Company for 2016: The beginning inventory consisted of 180 units
Question:
The following inventory transactions apply to Green Company for 2016:
The beginning inventory consisted of 180 units at $48 per unit. All transactions are cash transactions.
Required
a. Record these transactions in general journal format assuming Green uses the FIFO cost flow assumption and keeps perpetual records.
b. Compute cost of goods sold for 2016.
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Related Book For
Fundamental Financial Accounting Concepts
ISBN: 978-0078025907
9th edition
Authors: Thomas Edmonds, Christopher Edmonds
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