Question
cullumber corp has the following data related to an item of inventory: Inventory March 1 110 units@$8.90 Purchase, march7 330units@9.30 Purchase, march16 80 units@9.90 Inventory,
cullumber corp has the following data related to an item of inventory:
Inventory March 1 110 units@$8.90 Purchase, march7 330units@9.30 Purchase, march16 80 units@9.90 Inventory, march 31 160 units
If the company uses FIFO, what is the value assigned to cost of goods sold?
Options are $3454 $2325 $3304 $2475
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Survey of Accounting
Authors: Edmonds, old, Mcnair, Tsay
2nd edition
9780077392659, 978-0-07-73417, 77392655, 0-07-734177-5, 73379557, 978-0073379555
