Question
Smith Video was involved in the following transactions during August concerning DVD players: August 1 Beginning inventory 10 @ $60 August 10Purchased5 @ $64 August
Smith Video was involved in the following transactions during August concerning DVD players:
August 1 Beginning inventory 10 @ $60
August 10Purchased5 @ $64
August 15Sold12 for $80 per unit
August 28 Purchased5@ $66
Calculate the cost of sales of DVDs for Smith Video in August assuming the use of LIFO method under a perpetual inventory system.
| A. | $728 |
| B. | $736 |
| C. | $740 |
| D. | $750 |
Smith Video was involved in the following transactions during August concerning DVD players:
August 1 Beginning inventory 10 @ $60
August 10Purchased5 @ $64
August 15Sold12 for $80 per unit
August 28 Purchased5@ $66
Calculate the cost of sales of DVDs for Smith Video in August assuming the use of FIFO method under a perpetual inventory system.
| A. | $728 |
| B. | $736 |
| C. | $740 |
| D. | $750 |
Smith Video was involved in the following transactions during August concerning DVD players:
August 1 Beginning inventory 10 @ $60
August 10Purchased5 @ $64
August 15Sold12 for $80 per unit
August 28 Purchased5@ $66
Calculate the cost of sales of DVDs for Smith Video in August assuming the use of FIFO method under a periodic inventory system.
| A. | $960 |
| B. | $792 |
| C. | $770 |
| D. | $728 |
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International Marketing And Export Management
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
8th Edition
1292016922, 978-1292016924
