Question
The table below is extracted from the inventory records for the month of august of lamp, Inc. a company which makes custom lamps. quantity price
The table below is extracted from the inventory records for the month of august of lamp, Inc. a company which makes custom lamps.
|
| quantity | price per lamp | total |
| beginning inventory | 110 lamps | $6 | 660 |
| aug 7 purchase | 130 lamps | $7 | 910 |
| Aug 11 sales | 220 lamps | N/A |
|
| aug 17 purchase | 125 lamps | $6.50 | 819 |
| Aug 23 sales | 94 lamps | N/A |
|
| aug 28 purchase | 34 lamps | $7.50 | 255 |
Using the information above, perpetual FIFO amount of goods sold is?
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Intermediate Accounting
Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones
11th edition
978-0538467087, 9781111781262, 538467088, 1111781265, 978-0324659139
