Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Transcribed Image Text:At the end of January, Higgins Data Systems had an inventory of 750 units, which cost $13 per unit to produce. During February the
company produced 1,600 units at a cost of $16 per unit. If Higgins sold 2,000 units in February, what was its cost of goods sold?
a. Assume average cost inventory accounting. (Do not round intermediate calculations. Round your answer to nearest whole dollar.)
Cost of goods sold
$30800
b. Assume FIFO inventory accounting.
Cost of goods sold $1
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