The following information pertains to Julia & Company: March 1 Beginning inventory = 31 units @ $5.50 March 3 Purchased 16 units @ 4.00 March 9 Sold 27 units @ 8.60 What is the cost of goods sold for Julia & Company assuming it uses LIFO? (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $125. $149. $114. $108.
The following information pertains to Julia & Company: March 1 Beginning inventory = 31 units @ $5.50 March 3 Purchased 16 units @ 4.00 March 9 Sold 27 units @ 8.60 What is the cost of goods sold for Julia & Company assuming it uses LIFO? (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $125. $149. $114. $108.
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 67P
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The following information pertains to Julia & Company:
March | 1 | Beginning inventory = 31 units @ $5.50 | ||
March | 3 | Purchased 16 units @ 4.00 | ||
March | 9 | Sold 27 units @ 8.60 |
What is the cost of goods sold for Julia & Company assuming it uses LIFO? (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)
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