Enterprise Software has the following inventory data: Inventory Purchase 30 units @ $6.00 each 120 units @ $6.45 each 60 units @ $6.30 each 90 units @ $6.60 each Purchase Purchase The company uses a periodic inventory system. A physical count of merchandise inventory on November 30 reveals that there are 100 units on hand. Assuming that the specific identification method is used and that ending inventory consists of 30 units from each of the three purchases and 10 units from the November 1 inventory, the cost of goods sold, rounded to the nearest dollar, is Nov. 1 8 17 25 O $1,281. O $1,254. O $1,286. O $640.
Enterprise Software has the following inventory data: Inventory Purchase 30 units @ $6.00 each 120 units @ $6.45 each 60 units @ $6.30 each 90 units @ $6.60 each Purchase Purchase The company uses a periodic inventory system. A physical count of merchandise inventory on November 30 reveals that there are 100 units on hand. Assuming that the specific identification method is used and that ending inventory consists of 30 units from each of the three purchases and 10 units from the November 1 inventory, the cost of goods sold, rounded to the nearest dollar, is Nov. 1 8 17 25 O $1,281. O $1,254. O $1,286. O $640.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Enterprise Software has the following inventory data:
Inventory
Purchase
30 units @ $6.00 each
120 units @ $6.45 each
60 units @ $6.30 each
90 units @ $6.60 each
Purchase
Purchase
The company uses a periodic inventory system. A physical count of
merchandise inventory on November 30 reveals that there are 100 units
on hand. Assuming that the specific identification method is used and
that ending inventory consists of 30 units from each of the three
purchases and 10 units from the November 1 inventory, the cost of
goods sold, rounded to the nearest dollar, is
Nov. 1
8
17
25
O $1,281.
O $1,254.
O $1,286.
O $640.
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