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I am not sure what I did wrong here to arrive at the incorrect answer. Any help is appreciated. Required information Beech Soda, Inc. uses
I am not sure what I did wrong here to arrive at the incorrect answer. Any help is appreciated.
Required information Beech Soda, Inc. 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: Beginning inventory (Jan. 1) Purchase (Jan. 11) Purchase (Jan. 20) Total Quantity Unit Cost 21 $ 16 17 $ 22 28 $ 24 66 Total Cost $ 336 374 672 $1,382 On January 14, Beech Soda, Inc. sold 30 units of this product. The other 36 units remained in inventory at January 31. Assuming that Beech Soda uses the LIFO cost flow assumption, the cost of goods sold to be recorded at January 14 is: Assuming that Beech Soda uses the LIFO cost flow assumption, the cost of goods sold to be recorded at January 14 is: Multiple Choice o $806. O $1,382. $582. $534. Assuming that Beech Soda uses the average cost flow assumption, the cost of goods sold to be recorded at January 14 is: (Round your intermediate calculation to one decimal place and final answer to the nearest cent). Multiple Choice $561.00 $1,382.00 $628.18 O $672.63 Assuming that Beech Soda uses the LIFO cost flow assumption, the 36 units of this product in inventory at January 31 have a total cost of: Multiple Choice X $821. 0 O $837. O O $848. O $800Step by Step Solution
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