95) A company's inventory records indicate the following data for the month of April: Date April 1 April 7 April 11 Activities Beginning inventory Purchase April 29 Sale April 16 Purchase April 22 Sale Purchase A) $40,720. B) $31,600. C) $62,800. D) $53,680. E) $35,922. Units Acquired at Cost 700 units @ $36 = $25,200 580 units @ $40 = $23, 200 500 units @ $44 = $22,000 480 units @ $50 = $24,000 Units Sold at Retail 1,000 units @ $110 400 units @ $110 If the company uses the first-in, first-out (FIFO) method and the periodic inventory system, what is the value of cost of goods sold?

95) A company's inventory records indicate the following data for the month of April: Date April 1 April 7 April 11 Activities Beginning inventory Purchase April 29 Sale April 16 Purchase April 22 Sale Purchase A) $40,720. B) $31,600. C) $62,800. D) $53,680. E) $35,922. Units Acquired at Cost 700 units @ $36 = $25,200 580 units @ $40 = $23, 200 500 units @ $44 = $22,000 480 units @ $50 = $24,000 Units Sold at Retail 1,000 units @ $110 400 units @ $110 If the company uses the first-in, first-out (FIFO) method and the periodic inventory system, what is the value of cost of goods sold?

Name: 95)A company's inventory records indicate the following data for the
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Description: 95)A company's inventory records indicate the following data for the month of April:DateApril 1 BeginninginventoryPurchaseApril 7April 11April 16April 22April 29ActivitiesSalePurchaseSalePurchaseA) $40,720.B) $31,600.C) $62,800.D) $53,680.E) $35,922

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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