The inventory records for Freer reflected the following: Jan 1 Beginning Inventory 300 units @ $2.10 Jan 12 First Purchase 400 units @ $2.40 Jan 21 Second Purchase 600 units @ $2.50 800 units @ $5.00 Jan 31 Sales Assuming that Freer uses a FIFO cost flow method, the cost of goods sold for January is: a. $1,590 b. $1,840 c. $1,740 d. $1,680
The inventory records for Freer reflected the following: Jan 1 Beginning Inventory 300 units @ $2.10 Jan 12 First Purchase 400 units @ $2.40 Jan 21 Second Purchase 600 units @ $2.50 800 units @ $5.00 Jan 31 Sales Assuming that Freer uses a FIFO cost flow method, the cost of goods sold for January is: a. $1,590 b. $1,840 c. $1,740 d. $1,680
Chapter10: Inventory
Section: Chapter Questions
Problem 10EB: Calculate the cost of goods sold dollar value for B67 Company for the month, considering the...
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