Business, 03.01.2022 02:30, jtorres0520
ABC has the following inventory information:
July 1 Beginning Inventory 20 units at $19 each $380
July 7 Purchases 70 units at $20 each 1.400
July 22 Purchases 10 units at $24 each 240
A physical count of merchandise inventory on July 31 reveals that there are 30 units on
hand. Using FIFO under the periodic method, the amount allocated to the cost of
goods sold for July is:
$1,380
$640
$580
$1,414
Answers: 2
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ABC has the following inventory information:
July 1 Beginning Inventory 20 units at $19 each $380<...
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