Curtis Company had the following transactions for the month of January:
Assume that Curtis 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.

Question

Curtis Company had the following transactions for the month of January:
Assume that Curtis 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.

Quizplus · Accepted Answer

The Answer of Curtis Company had the following transactions for the month of January:
Assume that Curtis 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.

Curtis Company Had the Following Transactions for the Month of January