TVCORP sells televisons to retail customers. TVCORP purchase 1 0 televisions in year 1 for a total of $ 1 0 0 0 , 1 0 televisons in year 2 for a total of $ 2 0 0 0 and 1 0 televisions in year 3 for a total of $ 3 0 0 0 . Assuming TVCORP uses the FIFO method of accounting, when it sells 2 0 televisions in year 4 ( it ' s first year of actual sales ) for a total of $ 2 0 0 0 0 , what will be the cost of goods sold ( COGS ) for the television sold. What will be TVCORP's net profit on the sales.

Answer rating: 100% (QA)

TVCORPs Cost of Goods Sold COGS and Net Profit Assuming TVCORP uses the FIFO ... View the full answer