Square9 Corporation provided the following information about one of its laptop computers: Number of Cost per Date 1/1 Transaction Units Unit Beginning Inventory 280 $580 5/5 Purchase 380 $630 8/10 Purchase 480 $680 10/15 Purchase 290 $730 During the year, Square9 sold 1,200 laptop computers. What was cost of goods sold using the FIFO cost flow assumption? Multiple Choice О $796,500 $777,000 $806,500 $772,000
Square9 Corporation provided the following information about one of its laptop computers: Number of Cost per Date 1/1 Transaction Units Unit Beginning Inventory 280 $580 5/5 Purchase 380 $630 8/10 Purchase 480 $680 10/15 Purchase 290 $730 During the year, Square9 sold 1,200 laptop computers. What was cost of goods sold using the FIFO cost flow assumption? Multiple Choice О $796,500 $777,000 $806,500 $772,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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