Assuming FIFO cost flow assumption the days to sell is _________. Beginning Inventory 1/1/16: 15 units...

Assuming FIFO cost flow assumption the days to sell is _________.

Beginning Inventory 1/1/16: 15 units @ $1.00 per unit

Sale 1/3/16: 10 units @ $5.00 per unit

Purchase 1/4/16: 10 units @ $1.10 per unit

Sale 1/5/16: 10 units @ $5.00 per unit

Purchase 1/7/16: 20 units @ $1.20 per unit

Purchase 1/17/16: 15 units @ $1.40 per unit

Sale 1/18/16: 15 units @ $5.00 per unit

Sale 1/25/16: 15 units @ $5.00 per unit

Purchase 1/30/16: 5 units @ $1.50 per unit

For the month of January 2016 compute the following amounts using the periodic method

Expert Solution

Note: Final answer rounded to 1 Decimal. As it's not mentioned in the question

ekkarill92 answered 1 year ago

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