Solution-Calculate ending inventory and cost of goods sold

Calculate ending inventory and cost of goods sold

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Reference no: EM132166159

Question - Samuelson and Messenger (S&M) began 2018 with 250 units of its one product. These units were purchased near the end of 2017 for $20 each. During the month of January, 125 units were purchased on January 8 for $23 each and another 250 units were purchased on January 19 for $25 each. Sales of 200 units and 150 units were made on January 10 and January 25, respectively. There were 275 units on hand at the end of the month. S&M uses a periodic inventory system.

Required: Calculate ending inventory and cost of goods sold for January using FIFO.

Reference no: EM132166159

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Calculate ending inventory and cost of goods sold : Samuelson and Messenger (S&M) began 2018 with 250 units of its one product. Calculate ending inventory and cost of goods sold for January using FIFO

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Calculate ending inventory and cost of goods sold

Reference no: EM132166159

Reference no: EM132166159

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