Fairfax Company uses a perpetual inventory system. The following is information about one inventory item for the month of September: Sep 1 Inventory 4 Sold 10 Purchased 17 Sold 25 units at $18 per unit 12 units 28 units at $23 per unit 30 units 9 units at $22 per unit 30 Purchased Enter answers as whole numbers If Fairfax Company uses FIFO, the cost of the ending merchandise inventory on Sep 30 is? If Fairfax Company uses LIFO, the cost of the ending merchandise inventory on Sep 30 is? If Fairfax Company uses Weighted Average, the cost of the ending merchandise inventory on Sep 30 is?
Fairfax Company uses a perpetual inventory system. The following is information about one inventory item for the month of September: Sep 1 Inventory 4 Sold 10 Purchased 17 Sold 25 units at $18 per unit 12 units 28 units at $23 per unit 30 units 9 units at $22 per unit 30 Purchased Enter answers as whole numbers If Fairfax Company uses FIFO, the cost of the ending merchandise inventory on Sep 30 is? If Fairfax Company uses LIFO, the cost of the ending merchandise inventory on Sep 30 is? If Fairfax Company uses Weighted Average, the cost of the ending merchandise inventory on Sep 30 is?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 12RE: Carla Company uses the perpetual inventory system. The following information is available for...
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