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Apple-A-Day Company has the following inventory data: July 1 7. 22 Beginning inventory Purchases 40 units at $20 140 units at $21 20 units at $22 $ 800 2,940 440 $4,180 Purchases During July, the company sold 150 units. Using the LIFO inventory method, the amount recorded as cost of goods sold for July is O $3,010. $3,080. O $3,110. $3,170.

Apple-A-Day Company has the following inventory data: July 1 7. 22 Beginning inventory Purchases 40 units at $20 140 units at $21 20 units at $22 $ 800 2,940 440 $4,180 Purchases During July, the company sold 150 units. Using the LIFO inventory method, the amount recorded as cost of goods sold for July is O $3,010. $3,080. O $3,110. $3,170.

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter7: Inventories: Cost Measurement And Flow Assumptions
Section: Chapter Questions
Problem 12RE: Carla Company uses the perpetual inventory system. The following information is available for...
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Apple-A-Day Company has the following inventory data: July 1 Beginning inventory Purchases 40 units at $20 140 units at $21 20 units at $22 S 800 2,940 440 $4,180 7. 22 Purchases During July, the company sold 150 units. Using the LIFO inventory method, the amount recorded as cost of goods sold for July is $3,010. O $3,080. O $3,110. O $3,170.
Transcribed Image Text:Apple-A-Day Company has the following inventory data: July 1 Beginning inventory Purchases 40 units at $20 140 units at $21 20 units at $22 S 800 2,940 440 $4,180 7. 22 Purchases During July, the company sold 150 units. Using the LIFO inventory method, the amount recorded as cost of goods sold for July is $3,010. O $3,080. O $3,110. O $3,170.
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