Angela Company sells many products. Gizmo is one of its popular items. Below is an analysis...
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Angela Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for the month of March. Angela Company uses the perpetual inventory system. Purchases Sales Unit Units Units Selling Price/Unit Cost 3/1 Beginning inventory 90 3/3 Purchase 3/4 Sales 55 3/10 Purchase 3/16 Sales 95 3/19 Sales 3/25 Sales 3/30 (a) 60 195 45 $80 $85 $90 $85 Purchase $60 Your answer is incorrect. Using the FIFO assumption, calculate the amount charged to cost of goods sold for March. Cost of goods sold $ tA $42 $52 $60 70 60 Angela Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for the month of March. Angela Company uses the perpetual inventory system. Purchases Sales Unit Units Units Selling Price/Unit Cost 3/1 Beginning inventory 90 3/3 Purchase 3/4 Sales 55 3/10 Purchase 3/16 Sales 95 3/19 Sales 3/25 Sales 3/30 (a) 60 195 45 $80 $85 $90 $85 Purchase $60 Your answer is incorrect. Using the FIFO assumption, calculate the amount charged to cost of goods sold for March. Cost of goods sold $ tA $42 $52 $60 70 60
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