Inventory records for Dunbar Incorporated revealed the following: Date Transaction Apr. 1Beginning Inventory 20Purchase Number of Units Unit Cost 500 $2.40 400 Apr. 2.50 Dunbar sold 700 units of inventory during the month. Cost of goods sold assuming FIFO would be: O $1,710. O $1,720. O $1,730. O $1,700.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Inventory records for Dunbar Incorporated revealed the following:
Date
Apr.
Apr.
Transaction
1Beginning Inventory
20Purchase
Number of
Units
Unit Cost
500
$2.40
400
2.50
Dunbar sold 700 units of inventory during the month. Cost of goods sold
assuming FIFO would be:
O $1,710.
O $1,720.
O $1,730.
O $1,700.
Transcribed Image Text:Inventory records for Dunbar Incorporated revealed the following: Date Apr. Apr. Transaction 1Beginning Inventory 20Purchase Number of Units Unit Cost 500 $2.40 400 2.50 Dunbar sold 700 units of inventory during the month. Cost of goods sold assuming FIFO would be: O $1,710. O $1,720. O $1,730. O $1,700.
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