Alfa INC began January 2021 with 20 units of iron inventory that cost 15 euro each. During January, the company completed the following inventory transactions: Date Activity Units Units Cost January 3 Sale 15 January 8 Purchase 75 25 euro January 21 Sale 40 January 30 Purchase 50 30 euro Prepare a perpetual inventory record for the merchandise inventory using the: 1. FIFO 2. LIFO 3. Weighted average method determine the cost of the good sold, comparing the three methods above. determine the residual value of the inventory.
Alfa INC began January 2021 with 20 units of iron inventory that cost 15 euro each. During January, the company completed the following inventory transactions: Date Activity Units Units Cost January 3 Sale 15 January 8 Purchase 75 25 euro January 21 Sale 40 January 30 Purchase 50 30 euro Prepare a perpetual inventory record for the merchandise inventory using the: 1. FIFO 2. LIFO 3. Weighted average method determine the cost of the good sold, comparing the three methods above. determine the residual value of the inventory.
Chapter10: Inventory
Section: Chapter Questions
Problem 10EA: Calculate the cost of goods sold dollar value for A67 Company for the month, considering the...
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