Question
Multiple-Choice Exercise 6-16 Morgan Inc. has the following units and costs for the month of April: Units Purchased at Cost Units Sold at Retail Beginning
Multiple-Choice Exercise 6-16
Morgan Inc. has the following units and costs for the month of April:
| Units Purchased at Cost | Units Sold at Retail | |
| Beginning inventory, April 1 | 1,200 units at $25 | |
| Purchase 1, April 9 | 1,500 units at $28 | |
| Sale 1, April 12 | 2,400 units at $45 | |
| Purchase 2, April 22 | 1,000 units at $30 |
If Morgan uses a periodic inventory system, what is the cost of goods sold under FIFO at April 30?
a. $32,800
b. $69,200
c. $38,400
d. $63,600
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Accounting For Non Accounting Students
Authors: John Dyson, Ellie Franklin
10th Edition
1292286938, 9781292286938
