Question
AOTD Inc. had beginning inventory of 5,700 that cost $4.00 each. It purchased an additional 4,000 units for $6.00 during the period. AOTD Inc. then
AOTD Inc. had beginning inventory of 5,700 that cost $4.00 each. It purchased an additional 4,000 units for $6.00 during the period. AOTD Inc. then sold 4,400 units for $18. If the company recognized gross profit of $51,000 on the sale, what inventory method is AOTD Inc. using? (A 14)
| LIFO | ||
| FIFO | ||
| Weighted Average | ||
| There is not enough information to answer this question. |
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Fundamental Financial Accounting Concepts
Authors: J.K.
7th Edition
B003NPRW7I
