zercise 5-9A Effect of cost flow on ending inventory: intermittent sales and purchases LO 5-1 me Hat Store had the following series of transactions for Year 2: Date Transaction Jan. 1 Beginning inventory Purchased Sold Mar. 15 May 30 Aug. 10. Nov. 20 Purchased Sold Ending inventory: Description units @ 25 units $19.50 175 units @ $23.50 180 units $38.75 325 units 325 units @ Required a. Determine the quantity and dollar amount of inventory at the end of the year, assuming The Hat Store uses the FIFO cost flow assumption and keeps perpetual records. (Round your answers to 2 decimal places.) $24.50 $38.75
zercise 5-9A Effect of cost flow on ending inventory: intermittent sales and purchases LO 5-1 me Hat Store had the following series of transactions for Year 2: Date Transaction Jan. 1 Beginning inventory Purchased Sold Mar. 15 May 30 Aug. 10. Nov. 20 Purchased Sold Ending inventory: Description units @ 25 units $19.50 175 units @ $23.50 180 units $38.75 325 units 325 units @ Required a. Determine the quantity and dollar amount of inventory at the end of the year, assuming The Hat Store uses the FIFO cost flow assumption and keeps perpetual records. (Round your answers to 2 decimal places.) $24.50 $38.75
Financial & Managerial Accounting
13th Edition
ISBN:9781285866307
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter6: Inventories
Section: Chapter Questions
Problem 6.3APR
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