The following is information regarding inventory of Dili Ltd during September 2019. Dili Ltd uses a periodic inventory system: Opening balance Purchases Sales September 1 – 5 units @ $200 September 3 – 5 units @ $240 September 7 – 7 units September 12 – 3 units @ $260 September 27 – 5 units September 25 – 6 units @ $200 What was the value of cost of goods sold, using the FIFO assumption?
The following is information regarding inventory of Dili Ltd during September 2019. Dili Ltd uses a periodic inventory system: Opening balance Purchases Sales September 1 – 5 units @ $200 September 3 – 5 units @ $240 September 7 – 7 units September 12 – 3 units @ $260 September 27 – 5 units September 25 – 6 units @ $200 What was the value of cost of goods sold, using the FIFO assumption?
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter6: Inventories
Section: Chapter Questions
Problem 4BE: Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory...
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The following is information regarding inventory of Dili Ltd during September 2019. Dili Ltd uses a periodic inventory system:
Opening balance |
Purchases |
Sales |
September 1 – 5 units @ $200 |
September 3 – 5 units @ $240 |
September 7 – 7 units |
|
September 12 – 3 units @ $260 |
September 27 – 5 units |
|
September 25 – 6 units @ $200 |
|
What was the value of cost of goods sold, using the FIFO assumption?
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