Use the following inventory table to find the cost of goods sold using the first-in, first-out (FIFO) inventory method. Date of purchase Beginning inventory February 5 February 9 March 3 Units sold Units purchased Cost per unit Retail price per unit $840 $965 $1,770 $2,115 $945 $470 The cost of goods sold is $ (Type an integer or a decimal.) 43 21 16 25 72 GEEHR $1,208 $700
Use the following inventory table to find the cost of goods sold using the first-in, first-out (FIFO) inventory method. Date of purchase Beginning inventory February 5 February 9 March 3 Units sold Units purchased Cost per unit Retail price per unit $840 $965 $1,770 $2,115 $945 $470 The cost of goods sold is $ (Type an integer or a decimal.) 43 21 16 25 72 GEEHR $1,208 $700
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter13: Accounting For Merchandise Inventory
Section: Chapter Questions
Problem 3CE: Use the following information to compute cost of goods sold under the FIFO and LIFO inventory...
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