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36 units at $15 per unit 4 units at $25 per unit 8 units at $28 per unit on hand. Determine the cost of goods sold

36 units at $15 per unit 4 units at $25 per unit 8 units at $28 per unit on hand. Determine the cost of goods sold

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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ABC had the following data for the month of March: Beginning inventory March h 286 units at $15 per unit March 19 purchase 214 units at $25 per unit March 27 purchase 208 units at $28 per unit On March 31, 310 units are still on hand. Determine the cost of goods sold for March if ABC uses the FIFO method. O $8674 Ⓒ$10,620 Ⓒ$7090 $8680
Transcribed Image Text:ABC had the following data for the month of March: Beginning inventory March h 286 units at $15 per unit March 19 purchase 214 units at $25 per unit March 27 purchase 208 units at $28 per unit On March 31, 310 units are still on hand. Determine the cost of goods sold for March if ABC uses the FIFO method. O $8674 Ⓒ$10,620 Ⓒ$7090 $8680
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