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Inventory records for Capetown, Incorporated revealed the following: Date Transaction Number of Units Unit Cost April 1 Beginning Inventory 470 $ 2.31 April 20 Purchase
Inventory records for Capetown, Incorporated revealed the following:
Date | Transaction | Number of Units | Unit Cost |
---|---|---|---|
April 1 | Beginning Inventory | 470 | $ 2.31 |
April 20 | Purchase | 350 | 2.58 |
Capetown sold 640 units of inventory during the month. Cost of goods sold assuming LIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)
Multiple Choice
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$1,478.
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$1,296.
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$1,524.
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$1,573.
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