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Nutka1998 [239]
3 years ago
12

Inventory records for Dunbar Incorporated revealed the following: Date Transaction Number of Units Unit Cost Apr. 1 Beginning in

ventory 490 $ 2.49 Apr. 20 Purchase 410 2.72 Dunbar sold 600 units of inventory during the month. Ending inventory assuming FIFO would be
Business
1 answer:
Drupady [299]3 years ago
3 0

Answer:

$816

Explanation:

Calculation for Dunbar Incorporated Ending inventory

Formula for Ending inventory units using FIFO method:

Ending inventory units = Beginning balance + Purchase -sales

Leg plug in the formula

490+410 - 600

= 300units

Calculation for Ending inventory

Ending inventory = 300*2.72

= $816

Therefore the Ending inventory assuming FIFO method is use would be $816

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4 years ago
The specific identification method of costing inventories is used when the company sells large quantities of relatively low-cost
Mila [183]

Answer:

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Explanation:

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