Carla Company uses the perpetual inventory system. The following information is available for January of the current

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Carla Company uses the perpetual inventory system. The following information is available for January of the current year, when Carla Company sold 1,600 units of inventory on January 14.

Using the FIFO method, calculate Carla Company€™s cost of goods sold for January and its January 31inventory.

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Intermediate Accounting

ISBN: 978-0324659139

11th edition

Authors: Loren A. Nikolai, John D. Bazley, Jefferson P. Jones

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Question Posted: Dec 09, 2013 08:48 AM

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Carla Company uses the perpetual inventory system. The following information is available for January of the current

Question:

Units Cost/Unit 1,500 $0.25 1,100 $0.27 2,600 Total Cost 375 297 S 672 Inventory, Jan. 1 Purchases, Jan. 13

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