The following information pertains to Julia & Company: March 1 Beginning inventory = 30 units @ $5.10 March 3 Purchased 15 units @ 3.60 March 9 Sold 26 units @ 8.90 What is the cost of goods sold for Julia & Company assuming it uses LIFO? (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $110. $94. $105. $133.
The following information pertains to Julia & Company: March 1 Beginning inventory = 30 units @ $5.10 March 3 Purchased 15 units @ 3.60 March 9 Sold 26 units @ 8.90 What is the cost of goods sold for Julia & Company assuming it uses LIFO? (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $110. $94. $105. $133.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 24CE: Inventory Costing: Average Cost Refer to the information for Filimonov Inc. and assume that the...
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The following information pertains to Julia & Company:
March | 1 | Beginning inventory = 30 units @ $5.10 | ||
March | 3 | Purchased 15 units @ 3.60 | ||
March | 9 | Sold 26 units @ 8.90 |
What is the cost of goods sold for Julia & Company assuming it uses LIFO? (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)
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