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TB MC Qu. 08-72 (Algo) Assuming that Beech Soda... Beech Soda, Incorporated uses a perpetual inventory system. The company's beginning inventory of a particular product

TB MC Qu. 08-72 (Algo) Assuming that Beech Soda...

Beech Soda, Incorporated uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows:

Quantity Unit Cost Total Cost
Beginning inventory (January 1) 23 $ 25 $ 575
Purchase (January 11) 26 $ 31 806
Purchase (January 20) 37 $ 33 1,221
Total 86 $ 2,602

On January 14, Beech Soda, Incorporated sold 39 units of this product. The other 47 units remained in inventory at January 31.

Assuming that Beech Soda uses the FIFO cost flow assumption, the 47 units of this product in inventory at January 31 have a total cost of:

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