Anton Co. uses the perpetual inventory method. Anton purchased 920 units of inventory that cost $7 each.
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Anton Co. uses the perpetual inventory method. Anton purchased 920 units of inventory that cost $7 each. At a later date the company purchased an additional 990 units of inventory that cost $9 each. If Anton uses the FIFO cost flow method and sells 1,350 units of inventory, the amount of cost of goods sold will be: |
$12,340.$10,310.$12,150.$9,450.
Related Book For
Intermediate Accounting
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
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