Anton Company uses the perpetual inventory system and FIFO cost flow method. During the year, Anton purchased 400 units of inventory that cost $12.00 each and then purchased an additional 600 units of inventory that cost $16.00 each. If Anton sells 700 units of inventory, what is the amount of cost of goods sold? Multiple Choice ο ο ο ο $8,400 511.200 $9,600 $10,400
Anton Company uses the perpetual inventory system and FIFO cost flow method. During the year, Anton purchased 400 units of inventory that cost $12.00 each and then purchased an additional 600 units of inventory that cost $16.00 each. If Anton sells 700 units of inventory, what is the amount of cost of goods sold? Multiple Choice ο ο ο ο $8,400 511.200 $9,600 $10,400
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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![Anton Company uses the perpetual inventory system and FIFO cost flow method. During the year, Anton purchased 400 units of inventory that cost $12.00 each and then purchased an additional 600 units of inventory
that cost $16.00 each. If Anton sells 700 units of inventory, what is the amount of cost of goods sold?
Multiple Choice
O
OOO
$8,400
$11,200
$9,600
$10,400](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F550702b7-3ea9-42b8-88f0-99eaacc13a5a%2F70fadcf7-91d8-4579-a56b-432294dbe1bd%2F73x6cap_processed.png&w=3840&q=75)
Transcribed Image Text:Anton Company uses the perpetual inventory system and FIFO cost flow method. During the year, Anton purchased 400 units of inventory that cost $12.00 each and then purchased an additional 600 units of inventory
that cost $16.00 each. If Anton sells 700 units of inventory, what is the amount of cost of goods sold?
Multiple Choice
O
OOO
$8,400
$11,200
$9,600
$10,400
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