Blossom Cars uses the specific identification formula of costing inventory. During April, Blossom purchased three used cars: a Toyota Corolla for $5700, a Buick Sedan for $6800, and a Hyundia Accent $7900, respectively. During April, two cars are sold for $8100 each. As of April 30, the Hyundia Accent is still in inventory. What is the cost of goods sold for April? O $14700 O $12500 O $16000 O $7900

Blossom Cars uses the specific identification formula of costing inventory. During April, Blossom purchased three used cars: a Toyota Corolla for $5700, a Buick Sedan for $6800, and a Hyundia Accent $7900, respectively. During April, two cars are sold for $8100 each. As of April 30, the Hyundia Accent is still in inventory. What is the cost of goods sold for April? O $14700 O $12500 O $16000 O $7900

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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