How many units remain in ending inventory? LaPlante Inc. Analysis of Inventory January Purchase and Sale Activity
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Question:
| How many units remain in ending inventory? |
| LaPlante Inc. | ||||||||
| Analysis of Inventory | ||||||||
| January Purchase and Sale Activity | ||||||||
| Valuing Ending Inventory | ||||||||
| Periodic Inventory | ||||||||
| FIFO Method | ||||||||
| Date | Transaction Type | Units | Unit Cost | |||||
| 1-Jan | Opening Inventory | 100 | $ 1 | |||||
| 7-Jan | Purchase | 10 | $ 2 | |||||
| 9-Jan | Sale | 80 | ||||||
| 21-Jan | Purchase | 20 | $ 3 | |||||
| 24-Jan | Sale | 40 | ||||||
| 1 | How many units remain in ending inventory? | |||||||
| 2 | What is the FIFO Unit Price(s) to be used in valuing Ending Inventory? | |||||||
| 3 | What is the FIFO value of total Ending Inventory? |
Expert Answer:
A great question about inventory management Lets break it down step by step 1 How many units remain ... View the full answer
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