Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but...
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Accounting
Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic inventory system. Assume Oahu Kikis records show the following for the month of January. Sales totaled 260 units. Date Units Unit Cost Total Cost Beginning Inventory January 1 220 $ 80 $ 17,600 Purchase January 15 480 90 43,200 Purchase January 24 200 110 22,000
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