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Assume the following information: April 1 Inventory $ 10 8 units at cost of April 10 purchase 10 units at cost of $ 10 April 12 sale 11 units Using the perpetual inventory system, what is the amount of cost of goods sold? A. $ 180 B.$ 110 C.$ 70 D.$ 10

Assume the following information: April 1 Inventory $ 10 8 units at cost of April 10 purchase 10 units at cost of $ 10 April 12 sale 11 units Using the perpetual inventory system, what is the amount of cost of goods sold? A. $ 180 B.$ 110 C.$ 70 D.$ 10

FINANCIAL ACCOUNTING
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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Assume the following information: April 1 Inventory $ 10 8 units at cost of April 10 purchase 10 units at cost of $ 10 April 12 sale 11 units Using the perpetual inventory system, what is the amount of cost of goods sold? A. $ 180 B.$ 110 C.$ 70 D.$ 10
Transcribed Image Text:Assume the following information: April 1 Inventory $ 10 8 units at cost of April 10 purchase 10 units at cost of $ 10 April 12 sale 11 units Using the perpetual inventory system, what is the amount of cost of goods sold? A. $ 180 B.$ 110 C.$ 70 D.$ 10
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