Question
The company uses FIFO inventory costing method. In 2009, the purchased unit cost is $10; in 2010, the purchased unit cost is $12. The company
The company uses FIFO inventory costing method. In 2009, the purchased unit cost is $10; in 2010, the purchased unit cost is $12. The company sold 1 unit in 2011. What is the cost of goods sold for the 1 unit sold?
A. $10
B. $13
C. $12
D. $11
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Cloud 9 Pty Ltd An Audit Case Study
Authors: John Wiley
1st Edition
0730329879, 978-0730329879
