Question
Klump Co. uses a perpetual inventory system and had the following inventory transactions for the month of March. Beginning Inventory 150 units at $81 March
Klump Co. uses a perpetual inventory system and had the following inventory transactions for the month of March.
Beginning Inventory 150 units at $81
March 7 Sold 70 units
March 11 Purchase 200 units at $85
March 12 Sold 220 units
If the company uses the LIFO inventory costing method, cost of goods sold for the month of March is:
| A. | $24,050 | |
| B. | $24,290 | |
| C. | $29,150 | |
| D. | $25,290 |
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Essentials Of Internal Auditing For Certified Internal Auditor CIA Exam Part One Review Notes 2023
Authors: Staff At SKDEMY
1st Edition
0645811831, 978-0645811834
