Required information E7-12 (Algo) Using FIFO for Multiproduct Inventory Transactions (Chapters 6 and 7) (LO 6-3, LO 6-4, LO 7. 3] [The following information applies to the questions displayed below] FindMe Incorporated. (F) has developed a coin-sized tracking tag that attaches to key rings, wallets, and other items and can be prompted to emit a signal using a smartphone app. Fl sells these tags, as well as water-resistant cases for the tags, with terms FOB shipping point. Assume Fl has no inventory at the beginning of the month, and it has outsourced the production of its tags and cases. Fl uses FIFO and has entered into the following transactions: January 2 FI purchased and received 220 tags from Xioasi Manufacturing (1) at a cost of $30 per tag, n/15. January 4 FI purchased and received 30 cases from Bachittar Products (BP) at a cost of $2 per case, n/20. January 6 FI paid cash for the tags purchased from XM on January 2. January BFI mailed 120 tags via the U.S. Postal Service (USPS) to customers at a price of $30 per tag, on account. January 11 FI purchased and received 320 tags from XM at a cost of $13 per tag, n/15. January 14 FI purchased and received 120 cases from BP at a cost of $3 per case, n/20. January 16 FI paid cash for the cases purchased froe BP on January 4. January 1911 mailed 80 cases via the USPS to customers at price of $12 per case, on account. January 21 F1 siled 220 tags to customers at a price of $30 per tag, on account. E7-12 (Algo) Part 2 Return to question