A company has the following purchases and sales during March. Using the FIFO perpetual Inventory method, what was the cost of the 22 units sold? Date Activities March 1 Beginning inventory March 2 Purchase March 6 Purchase 6 units @ $44 Units Acquired at Cost 10 units @ $39 = $390 10 units @ $41 $410 = $264 Units Sold at Retail March 8 Sales 22 units @ $73 Multiple Choice O O $888 $976 $927 $849 $1,064

A company has the following purchases and sales during March. Using the FIFO perpetual Inventory method, what was the cost of the 22 units sold? Date Activities March 1 Beginning inventory March 2 Purchase March 6 Purchase 6 units @ $44 Units Acquired at Cost 10 units @ $39 = $390 10 units @ $41 $410 = $264 Units Sold at Retail March 8 Sales 22 units @ $73 Multiple Choice O O $888 $976 $927 $849 $1,064

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 12RE: Carla Company uses the perpetual inventory system. The following information is available for...

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