Question
A company has beginning inventory of 10 units at a cost of $10 each on February 1. On February 3, it purchases 20 units at
A company has beginning inventory of 10 units at a cost of $10 each on February 1. On February 3, it purchases 20 units at $12 each. 12 units are sold on February 5. Using the periodic FIFO inventory method, what is the cost of the 12 units that are sold?
Multiple Choice
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$128
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$130
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$140
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$124
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$120
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Forensic And Investigative Accounting
Authors: Crumbley D. Larry, Fenton Edmund D., Jr. Smith G. Stevenson
9th Edition
0808053221, 9780808053224
