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Under the F IFO perpetual inventory system, given the information below, what would be January's Cost of Goods Sold be ? Date Description Units Cost
Under the FIFO perpetual inventory system, given the information below, what would be January's Cost of Goods Sold be?
| Date | Description | Units | Cost per Unit |
| 1/1 | Beginning Inventory | 150 | 10.00 |
| 1/5 | Bought Inventory | 75 | 12.00 |
| 1/16 | Sold Inventory | 130 | ?? |
| 1/20 | Bought Inventory | 100 | 8.00 |
| 1/28 | Sold Inventory | 60 | ?? |
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Financial and Managerial Accounting Using Excel for Success
Authors: James Reeve, Carl S. Warren, Jonathan Duchac
1st edition
1111535221, 1111535223, 9781285400914 , 978-1111993979
