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Assume Overland.com began June with 10 units of inventory that cost a total of $180. During June, Overland.com purchased and sold goods as follows: Jan.
Assume Overland.com began June with 10 units of inventory that cost a total of $180. During June, Overland.com purchased and sold goods as follows: Jan. 8: Purchase 34 units @ $22; Jan. 14: Sale 18 units @ $42; Jan. 22: Purchase 16 units @ $23; Jan. 27: Sale 24 units @ $42; Under the FIFO inventory costing method and the perpetual inventory system, how much is Overland.com's cost of goods sold for the sale on Jan 14? A. $396 B. $884 O C. $356 D. $756 Tammy Lee receives cash from customers. Her other assigned job is to post the collections to customer accounts receivable. Her company has weak A. assignment of responsibilities. B. computer controls. C. separation of duties. D. ethics. Suppose Red's had cost of goods sold during the year of $210,000. Beginning merchandise inventory was $65,000, and ending merchandise inventory was $80,000. Determine Red's inventory turnover for the year. Round to the nearest hundredth. O A. 2.90 times per year B. 3.08 times per year OC. 2.76 times per year D. 3.03 times per year
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