Question: Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following Jan 1Beginning i..s@$6.10Jan 1..s@$5.90Jan 1..s@$7.60Jan 2..s@$6.20Jan 2..s@$6.00Jan 3..s@$7.60 Assuming Chase

Chase Co. uses the perpetual inventory method. The inventory records for Chase reflected the following

Jan 1Beginning i..s@$6.10Jan 1..s@$5.90Jan 1..s@$7.60Jan 2..s@$6.20Jan 2..s@$6.00Jan 3..s@$7.60

Assuming Chase uses a LIFO cost flow method, the amount of cost of goods sold for the sales transaction on January 18 is:

Multiple Choice

  • $14,160.
  • $14,640.
  • $14,180.
  • $14,600.

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