Andrew's Sporting Goods had the following inventory records for the month of January. Beginning inventory 70...

 

Transcribed Image Text:

Andrew's Sporting Goods had the following inventory records for the month of January. Beginning inventory 70 units @ $400 per unit Sales, Jan. 1-Jan. 10 50 units Purchase, Jan. 11 Sales, Jan. 12-Jan. 20 Purchase, Jan. 21 Sales, Jan. 22-31 Assuming the last in first out (LIFO) method is used, what is Andrew's Cost of Goods Sold for the month of January? Select one: O O 40 units @ $412 per unit 50 units 50 units @ $420 per unit 40 units A. $57,120 B. $57,200 C. $57,280 D. $57,080 Andrew's Sporting Goods had the following inventory records for the month of January. Beginning inventory 70 units @ $400 per unit Sales, Jan. 1-Jan. 10 50 units Purchase, Jan. 11 Sales, Jan. 12-Jan. 20 Purchase, Jan. 21 Sales, Jan. 22-31 Assuming the last in first out (LIFO) method is used, what is Andrew's Cost of Goods Sold for the month of January? Select one: O O 40 units @ $412 per unit 50 units 50 units @ $420 per unit 40 units A. $57,120 B. $57,200 C. $57,280 D. $57,080

Answer rating: 100% (QA)

Option B is correct QTY Rate Amount ... View the full answer