Question
Niles Co. has the following data related to an item of inventory: Inventory, March 1200 units @ $2.10 Purchase, March7700 units @ $2.20 Purchase, March
Niles Co. has the following data related to an item of inventory:
Inventory, March 1200 units @ $2.10
Purchase, March7700 units @ $2.20
Purchase, March 16140 units @ $2.25
Inventory, March 31260 units
The value assigned to cost of goods sold if Niles uses FIFO is:
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
