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The inventory records for Radford Company reflected the following Beginning inventory on May 1 1,800 units @ $5.20 First purchase on May 7 1,900 units
The inventory records for Radford Company reflected the following
| Beginning inventory on May 1 | 1,800 units @ $5.20 |
|---|---|
| First purchase on May 7 | 1,900 units @ $5.40 |
| Second purchase on May 17 | 2,100 units @ $5.50 |
| Third purchase on May 23 | 1,700 units @ $5.60 |
| Sales on May 31 | 5,700 units @ $7.10 |
What is the amount of cost of goods sold assuming the LIFO cost flow method is used?
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College Accounting A Practical Approach
Authors: Jeffrey Slater, Debra Good
14th Canadian Edition
0135222419, 978-0135222416
