FIFO Journal
Final Questions
Instructions
The beginning inventory at Midnight Supplies and data on purchases and sales for a three month period ending March 31 are as follows
Date
Transaction
Total
Number of Units
2,700
Jan
1
Inventory
$50.00
$135,000
10
Purchase
7,300
58.00
423,400
20
Sale
4,050
100.00
405,000
30
Sale
1,200
100.00
120,000
TOD
Sale
500
100 00
50.000
10
Purchase
17,000
60.00
1,020,000
16
Sale
9,200
105.00
066.000
20
Sale
0,000
105.00
340.000
DERRA
1430
64
Donoon