Inventory Purchase Information Date Number of Units Cost per unit Extended Cost Beginning Inventory 100 10 1,000 10-Mar 150 11 1,650 20-Mar 100 10 1,000 30-Mar 150 12 1,800   The company had a sale of 200 units on March 12 and 100 units on March 22. Assume the company utilizes a Perpetual inventory cost system and a First-In, First-Out (FIFO) cost flow assumption? What is the costs of goods sold for the sale on March 12? Group of answer choices: $2,100 $2,300 $2,850 $3,150 $3,650

Cornerstones of Financial Accounting
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ISBN:9781337690881
Author:Jay Rich, Jeff Jones
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Chapter6: Cost Of Goods Sold And Inventory
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Inventory Purchase Information

Date

Number of Units

Cost per unit

Extended Cost

Beginning Inventory

100

10

1,000

10-Mar

150

11

1,650

20-Mar

100

10

1,000

30-Mar

150

12

1,800

 

The company had a sale of 200 units on March 12 and 100 units on March 22.

Assume the company utilizes a Perpetual inventory cost system and a First-In, First-Out (FIFO) cost flow assumption? What is the costs of goods sold for the sale on March 12?

Group of answer choices:
$2,100
$2,300
$2,850
$3,150
$3,650
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