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Assume the following for the Red Rock company: Cog of Goods Available for Sale June 1 Beginning Inventory of 20 units at $50 per unit
Assume the following for the Red Rock company: Cog of Goods Available for Sale June 1 Beginning Inventory of 20 units at $50 per unit June 5 Purchased 30 units at $55 per unit June 16 Purchased 25 units at $58 per unit June 28 Purchased 15 units at $60 per unit Retail Sale of Goods: June 14 Sold 35 units at $75 per unit June 27 Sold 40 units at $75 per unit Assuming a periodic inventory system, calculate Red Rock's cost of goods sold for June under FIFO. 4,300 4,490 0 4,410 None of the other answers are correct O 4,100 4,350 4,050
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