We dig out the following for Company A for the month of May. The company...
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Accounting
We dig out the following for Company A for the month of May. The company uses FIFO and the perpetual method of inventory.
Date Description Units / $s
May 1 Beg. Inventory 150 units @ $10.00
May 5 Purchase 220 units @ $12.00
May 10 Sale 140 units @ $20.00
May 15 Purchase 100 units @ $13.00
May 24 Sales 90 units @ $21.00
Calculate the following for the entire Month of May:
Sales Revenue
Cost of Goods Sold
Gross Profit
Ending Inventory
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