Question
How cost of goods is 14320? Merchandise inventory (22 @ $265; 3 @ $263.33) 6,620 Purchased 100 alarm systems for $28,000 cash during the year.
How cost of goods is 14320?
Merchandise inventory (22 @ $265; 3 @ $263.33) 6,620
Purchased 100 alarm systems for $28,000 cash during the year. Sold 102 alarm systems for $57,120. All sales were on account. (Compute cost of goods sold using the FIFO cost flow method)
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Auditing
Authors: David Ricchiute
8th Edition
0324226292, 978-0324226294
