The Rock Shop shows the following data related to one of the minerals in inventory: Inventory, January 1 300 units @ $5.00 900 units @ $5.40 Purchase, January 9 Purchase, January 19 Total available 210 units @ $6.00 1,410 units O $1,500 $5,874 = If there are 300 units in inventory on January 31, what value should be assigned to cost of goods sold using FIFO? O $1,746 $6,120 $1,500 $4,860 $1,260 $7,620

The Rock Shop shows the following data related to one of the minerals in inventory: Inventory, January 1 300 units @ $5.00 900 units @ $5.40 Purchase, January 9 Purchase, January 19 Total available 210 units @ $6.00 1,410 units O $1,500 $5,874 = If there are 300 units in inventory on January 31, what value should be assigned to cost of goods sold using FIFO? O $1,746 $6,120 $1,500 $4,860 $1,260 $7,620

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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