Solution-Compute the cost of goods sold for the year

Compute the cost of goods sold for the year

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Reference no: EM132617581

Question - Russell Company had the following information for the year ending December 31:

	Unit	Unit Cost
Beginning Inventory:	260	$45
Purchase: April 6	590	$44
Sale: May 4	570
Purchase: July 19	340	$39
Sale: September 9	410
Purchase: October 10	280	$34

Russell uses the perpetual inventory system and the FIFO method.

Required - Using FIFO

(a) Compute the cost of ending inventory.

(b) Compute the cost of goods sold for the year.

Reference no: EM132617581

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Compute the cost of goods sold for the year

Reference no: EM132617581

Reference no: EM132617581

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