ong Sai-Yuk Company sells one product. Presented below is information for January for Fong Sai-Yuk Company.
Jan. 1 Inventory 111 units at $4 each
4 Sale 87 units at $8 each
11 Purchase 141 units at $6 each
13 Sale 106 units at $9 each
20 Purchase 168 units at $7 each
27 Sale 108 units at $11 each
Fong Sai-Yuk uses the FIFO cost flow assumption. All purchases and sales are on account.
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