Question: Please explain how every number is aquired MC Qu.63 Maxell Company uses the FIFO method to... Maxell Company uses the FIFO method to assign costs
MC Qu.63 Maxell Company uses the FIFO method to... Maxell Company uses the FIFO method to assign costs to inventory and cost of goods sold. The company uses a periodic inventory system. Consider the following information: Date January 1 June 2 Description Beginning inventory Purchase Sales # of units 180 75 195 Cost per unit $5 $4 What amounts would be reported as the cost of goods sold and ending inventory balances for the year? O Cost of goods sold $975 Ending inventory $135 O Cost of goods sold $1.035; Ending inventory $270 O Cost of goods sold $900: Ending inventory $300 O Cost of goods sold $960, Ending inventory $240 References Multiple Choice MC Qu.63 Maxell Company uses the FIFO
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