During 2021, a company sells 260 units of inventory for $94 each. The company has...
80.2K
Verified Solution
Link Copied!
Question
Accounting
During 2021, a company sells 260 units of inventory for $94 each. The company has the following inventory purchase transactions for 2021: Number Unit Datel Transaction of Units Cost Total Cost Jan. 1 Beginning inventory 64 $68 $ 4,352 May 5 Purchase 168 69 11,592 Nov. 3 Purchase 184 71 13,064 416 $29,008 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses FIFO. Ending inventory Cost of goods sold
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.