ABC's inventory records show the following data at January 31: Beginning inventory Jan. 1/100 units at $7 per unit Jan. 10 purchase 310 units at $12 per unit Jan. 22 purchase 120 units at $13 per unit At January 31, 190 units are still on hand. What is the cost goods sold for January if ABC uses the LIFO method? O$1780 O $1330 $2470 $4200

ABC's inventory records show the following data at January 31: Beginning inventory Jan. 1/100 units at $7 per unit Jan. 10 purchase 310 units at $12 per unit Jan. 22 purchase 120 units at $13 per unit At January 31, 190 units are still on hand. What is the cost goods sold for January if ABC uses the LIFO method? O$1780 O $1330 $2470 $4200

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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