Question: 5-13 PLAST Enterprises started the period with 65 units in beginning inventory that cost $2.60 each. During the period, the company purchased inventory items as follows. Purchase No. of Items Cost 1 2 3 300 $3.10 200 $3.20 55 $3.60 PLAST sold 325 units after purchasing 3 for $10.90 each. PLAST's cost of goods sold under FIFO would be

Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter6: Inventories
Section: Chapter Questions
Problem 6.3BE: Perpetual inventory using LIFO Beginning inventory, purchases, and sales for Item 88-HX are as...
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Question: 5-13
PLAST Enterprises started the period with 65 units in beginning inventory that cost $2.60
each. During the period, the company purchased inventory items as follows.
Purchase No. of Items Cost
1
2
3
300
$3.10
200
$3.20
55
$3.60
PLAST sold 325 units after purchasing 3 for $10.90 each.
PLAST's cost of goods sold under FIFO would be
Transcribed Image Text:Question: 5-13 PLAST Enterprises started the period with 65 units in beginning inventory that cost $2.60 each. During the period, the company purchased inventory items as follows. Purchase No. of Items Cost 1 2 3 300 $3.10 200 $3.20 55 $3.60 PLAST sold 325 units after purchasing 3 for $10.90 each. PLAST's cost of goods sold under FIFO would be
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