April 1 Beginning Inventory 100 units @ $4 April 2 Sales 50 units April 3 Purchases 300 units @ $6 April 10 Sales 250 units April 21 Purchases 400 units @ $8 April 28 Sales 200 units Assuming a periodic inventory system is used, what is cost of goods sold under FIFO? Select one: a. $3,300 b. $2,400 c. $3,000 d. $2,100
April 1 Beginning Inventory 100 units @ $4 April 2 Sales 50 units April 3 Purchases 300 units @ $6 April 10 Sales 250 units April 21 Purchases 400 units @ $8 April 28 Sales 200 units Assuming a periodic inventory system is used, what is cost of goods sold under FIFO? Select one: a. $3,300 b. $2,400 c. $3,000 d. $2,100
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter6: Inventories
Section: Chapter Questions
Problem 6.2BE: Perpetual inventory using FIFO Beginning inventory, purchases, and sales for Item Zeta9 are as...
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