Inventory records for Dunbar Incorporated revealed the following: Transaction Date Apr. 1 Beginning inventory Apr. 20 Purchase Number of Units 490 320 Unit Cost $2.33 2.51 Dunbar sold 670 units of inventory during the month. Cost of goods sold assuming LIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)

Inventory records for Dunbar Incorporated revealed the following: Transaction Date Apr. 1 Beginning inventory Apr. 20 Purchase Number of Units 490 320 Unit Cost $2.33 2.51 Dunbar sold 670 units of inventory during the month. Cost of goods sold assuming LIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter5: Inventories And Cost Of Goods Sold

Section: Chapter Questions

Problem 5.12AMCP

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