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Serene Stereos has the following inventory data: Nov. 1 Inventory 22 units @ $4.40 each 8 Purchase 89 units @ $4.75 each 17 Purchase 44
Serene Stereos has the following inventory data:
Nov. 1 Inventory 22 units @ $4.40 each
8 Purchase 89 units @ $4.75 each
17 Purchase 44 units @ $4.65 each
25 Purchase 67 units @ $4.90 each
A physical count of merchandise inventory on November 30 reveals that there are 74 units on hand. Cost of goods sold under FIFO is
$709. |
| $361. |
| $692. |
| $344 |
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