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) 21 $ 12 $ 252 Purchase (January 11) 13 $ 18 234 Purchase (January 20) 24 $ 20 480 Total 58 $ 966 On January 14, Beech Soda, Incorporated sold 26 units of this product. The other 32 units remained in inventory at January 31. Assuming that Beech Soda uses the FIFO cost flow assumption, the 32 units of this product in inventory at January 31 have a total cost of:
$594.
$624.
$576.
$566.
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