Blossom Cars uses the specific identification formula of costing inventory. During April, Blossom purchased three used cars: a Toyota Corolla for $5700, a Buick Sedan for $6800, and a Hyundia Accent $7900, respectively. During April, two cars are sold for $8100 each. As of April 30, the Hyundia Accent is still in inventory. What is the cost of goods sold for April? O $14700 O $12500 O $16000 O $7900

Blossom Cars uses the specific identification formula of costing inventory. During April, Blossom purchased three used cars: a Toyota Corolla for $5700, a Buick Sedan for $6800, and a Hyundia Accent $7900, respectively. During April, two cars are sold for $8100 each. As of April 30, the Hyundia Accent is still in inventory. What is the cost of goods sold for April? O $14700 O $12500 O $16000 O $7900

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 11RE: Jessie Stores uses the periodic system of calculating inventory. The following information is...

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