Question
The following information is provided by Charest Co. for the month of September: Date Units Unit Cost September 1 Beginning inventory 280 $17 18 Purchase
The following information is provided by Charest Co. for the month of September: Date Units Unit Cost September 1 Beginning inventory 280 $17 18 Purchase 480 29 25 Purchase 460 33 Total 1,220 $79 Charest sold 670 units in September. Calculate the cost of goods sold and the cost of ending inventory for the month of September using the first-in, first-out (FIFO) method. a.Cost of goods sold is $17,541, and ending inventory is $16,440. b.Cost of goods sold is $14,141, and ending inventory is $20,235. c.Cost of goods sold is $18,680, and ending inventory is $15,180. d.Cost of goods sold is $11,880, and ending inventory is $12,645
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