The following information pertains to inventory for a company: March 1 Beginning inventory = 28 units @ $5.10 March 3 Purchased 17 units @ 3.70 March 9 Sold 26 units @ 8.90 What is the cost of goods sold, assuming the company uses LIFO? (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $104 $96 $133 $109
The following information pertains to inventory for a company: March 1 Beginning inventory = 28 units @ $5.10 March 3 Purchased 17 units @ 3.70 March 9 Sold 26 units @ 8.90 What is the cost of goods sold, assuming the company uses LIFO? (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $104 $96 $133 $109
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:The following information pertains to inventory for a company:
March 1 Beginning inventory = 28 units @ $5.10
March 3 Purchased 17 units @ 3.70
March 9 Sold 26 units @ 8.90
What is the cost of goods sold, assuming the company uses LIFO? (Do not round your intermediate calculations. Round your answer to the nearest
dollar amount.)
Multiple Choice
$104
$96
O
$133
$109
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