I have been trying to answer this question for days and i am stumped.
The beginning inventory for Kincaid Company consists of 300 units valued at $10 each. Four purchases of 50 units each were made during the year at $11, $11.50, $13, and $14 per unit, respectively. A physical count reveals 220 units on hand at December 31, which is the end of the accounting period. What is the cost of goods sold for the period under a periodic FIFO system?
Thanks your help would be soo much appreciated.
Asked by Anonymous at 10:57 PM on Aug. 31, 2010 in Money & Work
Answer by motherofhope98 at 11:06 PM on Aug. 31, 2010
Answer by Maureen-MD at 11:25 PM on Aug. 31, 2010
Answer by michiganmom116 at 11:28 PM on Aug. 31, 2010
http://www.scribd.com/doc/33184 check this out... i hope this helps you.
Answer by Patientchild3 at 12:08 AM on Sep. 1, 2010