The following information pertains to inventory for a company: March 1 Beginning inventory = 28 units @ $5.10 March 3 Purchased 17 units @ 3.70 March 9 Sold 26 units @ 8.90 What is the cost of goods sold, assuming the company uses LIFO? (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $104 $96 $133 $109

The following information pertains to inventory for a company: March 1 Beginning inventory = 28 units @ $5.10 March 3 Purchased 17 units @ 3.70 March 9 Sold 26 units @ 8.90 What is the cost of goods sold, assuming the company uses LIFO? (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $104 $96 $133 $109

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 41BE: ( Appendix 6B) Inventory Costing Methods: Periodic Inventory Systems. Refer to the information for...

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