Assume Amazon com began June with 10 units of inventory that cost a total of $190 During June, Amazon purchased and sold goods as follows Under the FIFO inventory method, how much is Amazon 's cost of goods sold for the sale on June 14 a ( $ 490 ) b ( $ 500 ) c ( $ 790 ) d ( $ 1,000 ) June 8 Purcha...

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Assume Amazon.com began June with 10 units of inventory that cost a total of $190. During June,

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Assume Amazon.com began June with 10 units of inventory that cost a total of \$190. During June, Amazon purchased and sold goods as follows:

image text in transcribed

Under the FIFO inventory method, how much is Amazon's cost of goods sold for the sale on June 14?

a. $\$ 490$

b. $\$ 500$

c. $\$ 790$

d. $\$ 1,000$

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Accounting

ISBN: 9780132439602

7th Edition

Authors: Charles T. Horngren, Walter T. Harrison

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Question Posted: May 10, 2024 01:49 AM

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Assume Amazon.com began June with 10 units of inventory that cost a total of $190. During June,

Question:

June 8 Purchase.......... 30 units @ $20 14 Sale.......... 25 units @ $40 22 Purchase..... 20 units @ $22 27 Sale......... 30 units @ $40

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Accounting

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