A company had beginning inventory of 10 units at a cost of $20 each on March 1. On March 2, it purchased 10 units at $22 each. On March 6 it purchased 6 units at $25 each. On March 8, it sold 22 units for $54 each. Using the FIFO perpetual inventory method, what was the cost of the 22 units sold?
A. $450
B. $520
C. $490
D. $570
E. $470
Answer: E
You might also like to view...
Which of the following statements is true of the Miranda warning?
A. It is a protection offered to the U.S. citizens under the Eighth Amendment. B. It gives defendants the right to a speedy, public trial by a jury of their peers. C. It requires the police to inform persons taken into custody of their right to remain silent. D. It allows persons accused of crimes the right to confront and cross-examine their accusers.
Individual supplier information can be found in the accounts payable ledger
Indicate whether the statement is true or false
Pricing cues such as sale signs and prices that end in 9 are more influential when consumers are experienced in the category
Indicate whether the statement is true or false
Is a principal liable for the acts committed by the employees of an agent? Discuss.
What will be an ideal response?