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Transactions for the month of July for Carla Vista's Bookstore were as follows: July 1 (balance) 8 (a) 22 Purchases 30 Sales 590@ $7.30 July 3 350@ $9.3 1,190@ $7.40 12 890@ $9.55 680 @ $7.60 25 790@ $9.80 210@ $7.75 Assuming that periodic inventory records are kept. Determine the ending inventory and cost of goods sold using FIFO method. (Round a Cost of goods sold Ending inventory $ tA $ tA

Transactions for the month of July for Carla Vista's Bookstore were as follows: July 1 (balance) 8 (a) 22 Purchases 30 Sales 590@ $7.30 July 3 350@ $9.3 1,190@ $7.40 12 890@ $9.55 680 @ $7.60 25 790@ $9.80 210@ $7.75 Assuming that periodic inventory records are kept. Determine the ending inventory and cost of goods sold using FIFO method. (Round a Cost of goods sold Ending inventory $ tA $ tA

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter14: Adjustments And The Work Sheet For A Merchandising Business
Section: Chapter Questions
Problem 1SEA: ADJUSTMENT FOR MERCHANDISE INVENTORY USING T ACCOUNTS: PERIODIC INVENTORY SYSTEM Matt Henry owns a...
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Transactions for the month of July for Carla Vista's Bookstore were as follows: July (a) 1 (balance) 8 22 Purchases 30 Assuming that periodic inventory records are kept. 590@ $7.30 July 1,190@ $7.40 680 @ $7.60 210@ $7.75 Ending inventory Cost of goods sold Determine the ending inventory and cost of goods sold using FIFO method. (Round answers to 2 decimal places, e.g. 52.75.) $ Sales $ $9.3 12 890@ $9.55 25 790@ $9.80 3 350 @
Transcribed Image Text:Transactions for the month of July for Carla Vista's Bookstore were as follows: July (a) 1 (balance) 8 22 Purchases 30 Assuming that periodic inventory records are kept. 590@ $7.30 July 1,190@ $7.40 680 @ $7.60 210@ $7.75 Ending inventory Cost of goods sold Determine the ending inventory and cost of goods sold using FIFO method. (Round answers to 2 decimal places, e.g. 52.75.) $ Sales $ $9.3 12 890@ $9.55 25 790@ $9.80 3 350 @
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