Question
Inventory records for Marvin Company revealed the following: Date Transaction Number of Units Unit Cost Mar. 1 Beginning inventory 1,000 $7.13 Mar. 10 Purchase 530
Inventory records for Marvin Company revealed the following:
| Date | Transaction | Number of Units | Unit Cost |
| Mar. 1 | Beginning inventory | 1,000 | $7.13 |
| Mar. 10 | Purchase | 530 | 7.61 |
| Mar. 16 | Purchase | 740 | 8.01 |
| Mar. 23 | Purchase | 570 | 8.41 |
| Marvin sold 1,950 units of inventory during the month. Cost of goods sold assuming FIFO would be(Do not round your intermediate calculations. Round your answer to the nearest dollar amount): |
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Intermediate Accounting
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
2nd edition
134730372, 134730370, 978-0134730370
