Record the purchases and sales above in the General Jounal Date 1-Jan 5-Jan 6-Jan 10-Jan 16-Jan...

 

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Record the purchases and sales above in the General Jounal Date 1-Jan 5-Jan 6-Jan 10-Jan 16-Jan 21-Jan Transaction Description Opening Balance Sale #1 Purchase 1 Purchase 2 Sale #2 Purchase 3 Linits Unit Cast 0.50 5.00 2,000 $ 1,200 $ 1.000 $ 500 $ 2,000 $ 1,000 $ 2.00 1.00 6.00 2.50 How many units of Inventory are left in Ending Inventory? What is the Unit Price(s) that will be used to determine FIFO Ending Inventory? Calculate the value of Ending Inventory using the units and price(s) noted above. Make the jornal entry to record Endina Inventorv under the FIFO/Periodic Inventory Method Record the purchases and sales above in the General Jounal Date 1-Jan 5-Jan 6-Jan 10-Jan 16-Jan 21-Jan Transaction Description Opening Balance Sale #1 Purchase 1 Purchase 2 Sale #2 Purchase 3 Linits Unit Cast 0.50 5.00 2,000 $ 1,200 $ 1.000 $ 500 $ 2,000 $ 1,000 $ 2.00 1.00 6.00 2.50 How many units of Inventory are left in Ending Inventory? What is the Unit Price(s) that will be used to determine FIFO Ending Inventory? Calculate the value of Ending Inventory using the units and price(s) noted above. Make the jornal entry to record Endina Inventorv under the FIFO/Periodic Inventory Method

Answer rating: 100% (QA)

Units of Inventory Left in Ending Inventory 1700 Unit Prices for FIFO Ending Inventory 05... View the full answer