Cousins Company Had the Following Transactions for the Month of January

question 125

Essay

Cousins Company had the following transactions for the month of January: Assume that Cousins uses the perpetual inventory method and that all transactions were for cash.
Required:
a) Prepare journal entries for the above transactions using the FIFO cost flow method.
b) Determine the amount of ending inventory using the FIFO cost flow method.

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