Question
Beech Soda, Incorporated uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were
Beech Soda, Incorporated uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows: Quantity Unit Cost Total Cost Beginning inventory (January 1) 24 $ 22 $ 528 Purchase (January 11) 23 $ 28 644 Purchase (January 20) 34 $ 30 1,020 Total 81 $ 2,192 On January 14, Beech Soda. Incorporated sold 36 units of this product. The other 45 units remained in inventory at January 31. Assuming that Beech Soda uses the FIFO cost flow assumption, the cost of goods sold to be recorded at January 14 is: Multiple Choice 0 O $1.202 $930. $864. $2,192
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