TB MC Qu. 05-137 (Algo) A company has... 2 A company has the following purchases and sales during March. Using the FIFO perpetual inventory method, what was the cost of the 22 units sold? Units Sold at Retail oints = Date March 1 March 2 March 6 March 8 Activities Beginning inventory Purchase Purchase Sales Units Acquired at Cost 10 units @ $31 $310 10 units @ $33 $330 6 units @ $36 - $216 = = eBook 22 units @ $65 Ask TB MC Qu. 05-131 (Algo) A company has the following products... 4 A company has the following products in its ending inventory. Compute lower of cost or market for inventory applied separately to each product Cost per ints Quantity 10 Product Product A Product B Product C Unit $ 712 $ 512 $ 662 Market per Unit $ 682 $ 552 $ 687 15 eBook 20 Ask Print TB MC Qu. 05-116 (Algo) Grays Company has... 10 Grays Company has the following purchases and sales during the month of August. Using the FIFO perpetual inventory method, what amount will be reported as cost of goods sold for the 12 units that were sold? 1 points Units Sold at Retail Date August 1 August 3 August 6 Activities Beginning inventory Purchase Sales Units Acquired at Cost 10 units @ $48 = $480 20 units @ $50 = $1,000 = eBook 12 units sold Ask Print References