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den Inc. purchased 10 merchandise inventory items at a total cost of $4,000 to add to its inventory on February 21, 2015. It started the month with 10 items at a total cost of $3,000. If the company used FIFO, what is the cost

den Inc. purchased 10 merchandise inventory items at a total cost of $4,000 to add to its inventory on February 21, 2015. It started the month with 10 items at a total cost of $3,000. If the company used FIFO, what is the cost

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 6EB: Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a...
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Linden Inc. purchased 10 merchandise inventory items at a total cost of $4,000 to add to its inventory on February 21, 2015. It started the month with 10 items at a total cost of $3,000. If the company used FIFO, what is the cost of goods sold if it sold 11 items in February.
a.
 $3,850
b.
 $3,400
c.
 $3,500
d.
 $4,000
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