Use this inventory information for the month of March to answer the following question March 1 Beginning inventory 30 units $56 7 Purchase 60 units $60 18 Sale 25 units 22 Purchase 10 units $66 29 Sale 40 units Assuming that a periodic inventory system is used, what is cost of goods sold on a FIFO ...

Use this inventory information for the month of March to answer the following question. March 1 Beginning

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Use this inventory information for the month of March to answer the following question.

March	1	Beginning inventory	30 units @ $56
	7	Purchase	60 units @ $60
	18	Sale	25 units
	22	Purchase	10 units @ $66
	29	Sale	40 units

Assuming that a periodic inventory system is used, what is cost of goods sold on a FIFO basis?

a. $3,780

b. $3,861

c. $2,160

d. $5,940

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Cost Management Measuring Monitoring and Motivating Performance

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2nd edition

Authors: Leslie G. Eldenburg, Susan K. Wolcott

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Posted Date: Oct 18, 2018 01:26 AM

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Use this inventory information for the month of March to answer the following question. March 1 Beginning

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Cost Management Measuring Monitoring and Motivating Performance

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