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ABC Co. using perpetual Inventory system, has the following Information for the month of Jan Date Transaction Units Unit cost Jan 1 Beginning 20,000 12 Purchase 12,000 4.2 16 Purchase 20,000 4.4 20 Sales 25,000 25 Purchase 3,000 4.3

ABC Co. using perpetual Inventory system, has the following Information for the month of Jan Date Transaction Units Unit cost Jan 1 Beginning 20,000 12 Purchase 12,000 4.2 16 Purchase 20,000 4.4 20 Sales 25,000 25 Purchase 3,000 4.3

Financial Accounting
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 2PEA: Beginning inventory, purchases, and sales for Item ProX2 are as follows: Assuming a perpetual...
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Assuming FIFO cost cash flow method is used, how much is the ending inventory and cost of sales, respectively? A. 130,000 and 101,000 B. 101,000 and 130,000 C. 105,000 and 126,300 D. 126,300 and 105,000
ABC Co. using perpetual Inventory system, has the following Informatlon for the month of Jan Date Transaction Units Unit cost Jan 1 Beginning 20,000 4 12 Purchase 12,000 4.2 16 Purchase 20,000 25,000 4.4 20 Sales 25 Purchase 3,000 4.3
Transcribed Image Text:ABC Co. using perpetual Inventory system, has the following Informatlon for the month of Jan Date Transaction Units Unit cost Jan 1 Beginning 20,000 4 12 Purchase 12,000 4.2 16 Purchase 20,000 25,000 4.4 20 Sales 25 Purchase 3,000 4.3
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