Anton Company uses the perpetual inventory method. Anton purchased 760 units of inventory that cost $7 each. At a later date the company purchased an additional 870 units of inventory that cost $9 each. If Anton uses the FIFO cost flow method and sells 1,150 units of inventory, the amount of cost of goods sold will be: Multiple Choice ο ο ο ο $10,350. $8,050 $10,420. $8,830

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Anton Company uses the perpetual inventory method. Anton purchased 760 units of inventory that cost $7 each. At a later date the company purchased an additional 870 units of inventory that cost $9 each. If Anton uses the FIFO cost flow method and sells 1,150 units of
inventory, the amount of cost of goods sold will be:
Multiple Choice
$10,350.
$8,050.
$10,420.
$8,830.
Transcribed Image Text:Anton Company uses the perpetual inventory method. Anton purchased 760 units of inventory that cost $7 each. At a later date the company purchased an additional 870 units of inventory that cost $9 each. If Anton uses the FIFO cost flow method and sells 1,150 units of inventory, the amount of cost of goods sold will be: Multiple Choice $10,350. $8,050. $10,420. $8,830.
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