Answered step by step
Verified Expert Solution
Question
1 Approved Answer
17 .RJ Corporation has provided the following information about one of its inventory items: Date Transaction Number of Units Cost per Unit 1/1 Beginning Inventory
17 .RJ Corporation has provided the following information about one of its inventory items:
Date | Transaction | Number of Units | Cost per Unit | ||||
1/1 | Beginning Inventory | 403 | $ | 3,215 | |||
6/6 | Purchase | 803 | $ | 3,615 | |||
9/10 | Purchase | 1,215 | $ | 4,015 | |||
11/15 | Purchase | 803 | $ | 4,230 | |||
During the year, RJ sold 3,015 units.
What was cost of goods sold using the FIFO cost flow assumption?
Multiple Choice
-
$11,801,470.
-
$11,664,800.
-
$11,699,335.
-
$11,589,335.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started