Solution-Determine the inventory balance altira

Determine the inventory balance altira

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Reference no: EM13501852

Aug. 1 Inventory on hand-2,000 units; cost $6.10 each.8 Purchased 10,000 units for $5.50 each.14 Sold 8,000 units for $12.00 each.18 Purchased 6,000 units for $5.00 each.25 Sold 7,000 units for $11.00 each.31 Inventory on hand-3,000 units.

Required:

Determine the inventory balance Altira would report in its August 31, 2011, balance sheet and the cost of goods sold it would report in its August 2011 income statement using each of the following cost flow methods:1. First-in, first-out (FIFO)

Reference no: EM13501852

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Determine the inventory balance altira

Reference no: EM13501852

Reference no: EM13501852

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