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QUESTION 2 A company has the following purchases and sales during March. Using the FIFO perpetual inventory method, what was the cost of the 2
QUESTION 2 A company has the following purchases and sales during March. Using the FIFO perpetual inventory method, what was the cost of the 2 units sold? Date Activities Units Acquired at Cost Units Sold at Retail Mar. 1 Beginning inventory 10 units @ $30 = $ 300 Mar.2 Purchase 10 units @ $32 = $ 320 Mar. 6 Purchase 6 units @ $35 = $ 210 Mar. 8 Sales 22 units @ $64 $760 $830 $720 $660 $690
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