Question: Kent Inc. sells retractable screen doors and uses a perpetual inventory system to account for its merchandise. The beginning balance of screen doors and transactions
Kent Inc. sells retractable screen doors and uses a perpetual inventory system to account for its merchandise. The beginning balance of screen doors and transactions during June of last year were as follows: June 1 Opening balance: 85 units costing $226 each June 5 Purchased 120 units costing $265 each June 11 Sold 55 units June 19 Sold 45 units June 23 Purchased 75 units costing $275 each June 25 Sold 45 units June 30 Sold 70 units Required: Calculate Kent Inc.'s cost of goods sold for the month of June assuming the company keeps its records on a FIFO basis. Round your answer to the nearest dollar
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