Inventory Purchase Information Date Number of Units Cost per unit Extended Cost Beginning Inventory 100 10 1,000 10-Mar 150 11 1,650 20-Mar 100 10 1,000 30-Mar 150 12 1,800 The company had a sale of 200 units on March 12 and 100 units on March 22. Assume the company utilizes a Perpetual inventory cost system and a First-In, First-Out (FIFO) cost flow assumption? What is the costs of goods sold for the sale on March 12? Group of answer choices: $2,100 $2,300 $2,850 $3,150 $3,650
Inventory Purchase Information Date Number of Units Cost per unit Extended Cost Beginning Inventory 100 10 1,000 10-Mar 150 11 1,650 20-Mar 100 10 1,000 30-Mar 150 12 1,800 The company had a sale of 200 units on March 12 and 100 units on March 22. Assume the company utilizes a Perpetual inventory cost system and a First-In, First-Out (FIFO) cost flow assumption? What is the costs of goods sold for the sale on March 12? Group of answer choices: $2,100 $2,300 $2,850 $3,150 $3,650
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Inventory Purchase Information
|
Date |
Number of Units |
Cost per unit |
Extended Cost |
|
Beginning Inventory |
100 |
10 |
1,000 |
|
10-Mar |
150 |
11 |
1,650 |
|
20-Mar |
100 |
10 |
1,000 |
|
30-Mar |
150 |
12 |
1,800 |
The company had a sale of 200 units on March 12 and 100 units on March 22.
Assume the company utilizes a Perpetual inventory cost system and a First-In, First-Out (FIFO) cost flow assumption? What is the costs of goods sold for the sale on March 12?
Group of answer choices:
$2,100
$2,300
$2,850
$3,150
$3,650
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