Business, 19.08.2020 19:01, musoke25p8zrsw

The following data applies to a particular item of merchandise: On hand at start of period 300 $5.10
1st purchase 500 5.20
2nd purchase 700 5.30
3rd purchase 600 5.50
Number of units available for sale 2,100
On hand at end of period 500
Number of units sold during period 1,600

Of the 1,600 units sold during the period, 300 were from the beginning inventory; 500 from the first purchase; 600 from the second purchase; And 200 from the last purchase. The amount of the cost of goods sold would be:

a. FIFO
b. LIFO
c. Weighted Avg

Answers: 3

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The following data applies to a particular item of merchandise: On hand at start of period 300 $5.1...