Joe's widgets, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its

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Joe S Widgets Inc Uses A Perpetual Inventory System The Company S Beginning Inventory Of A Particular Product And Its 1 (19.68 KiB) Viewed 3 times

Joe's widgets, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows: GIVE ANSWERS FOR ALL NUMERIC COMPUTATIONS AS A SINGLE TOTAL DOLLAR AMOUNT WITHOUT USING $ SIGN i.e. 60, NOT $60, NOT 5@$12 Beginning Inventory (Jan. 1) Purchase Jan. 11 SIN 16 widgets @ $10 each 14 widgets @ $12 each 25 widgets @ $20 each Assuming that the company uses the FIFO flow assumption, the cost of goods sold to be recorded at January 14 is: Sale Jan. 14