Question
A company had the following inventory activity during September: Units Unit Cost Total Cost Beginning inventory 400 $5.00 $ 2,000 Purchase: Sept 15 1,400 5.50
A company had the following inventory activity during September: Units Unit Cost Total Cost Beginning inventory 400 $5.00 $ 2,000 Purchase: Sept 15 1,400 5.50 7,700 Sale: Sept 18 (1,100) Purchase: Sept 23 900 5.35 4,815 Sales: Sept 28 (600) If the company is using a perpetual system and the FIFO costing assumption, what is the cost of goods sold?
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Integrated Reporting
Authors: Chiara Mio
1st Edition
1137551488, 9781137551481
