A company has the following purchases and sales during March. Using the FIFO perpetual Inventory method, what was the cost of the 22 units sold? Date Activities March 1 Beginning inventory March 2 Purchase March 6 Purchase 6 units @ $44 Units Acquired at Cost 10 units @ $39 = $390 10 units @ $41 $410 = $264 Units Sold at Retail March 8 Sales 22 units @ $73 Multiple Choice O O $888 $976 $927 $849 $1,064
A company has the following purchases and sales during March. Using the FIFO perpetual Inventory method, what was the cost of the 22 units sold? Date Activities March 1 Beginning inventory March 2 Purchase March 6 Purchase 6 units @ $44 Units Acquired at Cost 10 units @ $39 = $390 10 units @ $41 $410 = $264 Units Sold at Retail March 8 Sales 22 units @ $73 Multiple Choice O O $888 $976 $927 $849 $1,064
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter7: Inventories
Section: Chapter Questions
Problem 4PEA: Beginning inventory, purchases, and sales for 30xT are as follows: Assuming a perpetual inventory...
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