Question: Based on journal entries below for 2015 and 2016, what is the ASSETS TOTAL in 2016? Apply FIFO. 2015 2016 You contributed $100 cash to
Based on journal entries below for 2015 and 2016, what is the ASSETS TOTAL in 2016? Apply FIFO. 2015 2016 You contributed $100 cash to start business You contributed $60 cash to your business You purchased 6 products @ $10, with A/P You purchased 2 products @ $15, with Cash You sold 3 products @$30 with AR You sold 4 products @$30 with cash Record COGS (FIFO) Record COGS (FIFO) You paid $30 to your supplier. You received $50 from your customer. O 315 O 320 0.330 340
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