BreBreDoeCCx
08.10.2019 •
Business
One identical unit is purchased on each of the following three dates and at the respective costs: june 1 at $10 june 2 at $15 july 4 at $20 the company sells two units during the period. conclude which inventory items are sold first and which unit remains in ending inventory if the company is using the fifo cost flow assumption.
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Ответ:
Sold first - June 1 at $10
Sold first - June 2 at $15
Ending inventory - July 4 at $20
Explanation:
In the FIFO Method, when the first product is acquired it is sold first or dispose of.
In the given question, one identical unit is purchased on three dates, and the company sold two units
So, the selling units would be
June 1 at $10
June 2 at $15
And, the remaining stock would be considered as an ending inventory i.e July 4 at $20
Ответ: