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Crowe Co. uses the perpetual inventory method. The inventory records for Vulcan reflected the following Jan 1 Beginning Inventory 1,200 units @ $3.00 Jan 12
Crowe Co. uses the perpetual inventory method. The inventory records for Vulcan reflected the following |
Jan 1 | Beginning Inventory | 1,200 units @ $3.00 |
Jan 12 | First Purchase | 1,300 units @ $3.30 |
Jan 18 | Sales | 1,400 units @ $3.90 |
Jan 21 | Second Purchase | 1,200 units @ $3.10 |
Jan 25 | Third Purchase | 190 units @ $3.20 |
Jan 31 | Sales | 1,300 units @ $3.90 |
Assuming Crowe uses a LIFO cost flow method, the amount of cost of goods sold for the sales transaction on January 18 is (round the final result to the nearest whole dollar): A)$4,730. B)$4,340 C)$3,390. D)$4,590. |
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