Amber Company uses a perpetual inventory system. From the following information, prepare an inventory record form (a)
Question:
(a) Assuming that the FIFO method is in use
(b) Assuming that the LIFO method is in use.
Assume on January 1, 201X, a beginning inventory of 794 units at a cost of $10each.
Transcribed Image Text:
Received Sold Quaity Cost per Unit Date Date Apr. 15 Nov. 12 Dec. 31 228 804 694 Quantity 504 348 398 $12 Mar. 8 Oct. 5 Nov. 30
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