A company has beginning inventory of 300 units at $ 19.59 each; They purchased 400 units...

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A company has beginning inventory of 300 units at $ 19.59 each; They purchased 400 units at $ 6.37 each on June 2; On June 15, they also purchased 200 units at $ 10.13 each. A physical count of merchandise inventory at the end of the month revealed that 500 units were sold. What is the cost of goods sold using the FIFO inventory method? Round your answer to the nearest dollar. A company has beginning inventory of 300 units at $ 19.59 each; They purchased 400 units at $ 6.37 each on June 2; On June 15, they also purchased 200 units at $ 10.13 each. A physical count of merchandise inventory at the end of the month revealed that 500 units were sold. What is the cost of goods sold using the FIFO inventory method? Round your answer to the nearest dollar.

Answer rating: 100% (QA)

Answer Solution FIFO method stands for First In First Out This is a inventory valuation method w... View the full answer