? edugen.wileyplus.com Stucient Home WileyPLUS WileyPLUS: MyWilleyPLUS I Help Co

Question

? edugen.wileyplus.com Stucient Home WileyPLUS WileyPLUS: MyWilleyPLUS I Help Co Kimmel, Accounting, 6e FINANCIAL&MANAGERIAL; ctice Assignment Gradebook ORION Downloadable eTextbook nment 09:37 AM/Remaining: 10 min CALCULATOR FULL SCREEN PRINTER VERSION Question 32 Trumpeting Trumpets has the following inventory data: July 1 Beginning inventory 5 Purchases 14 Sale 21 Purchases 30 Sale 50 units at $120 300 units at $112 200 units 150 units at $115 140 units Assuming that a periodic inventory system is used, what is the cost of goods sold on a FIFO basis? O$18370 $38530 O $38480 $18320 Click if you would like to Show Work for this question: 0pen Show Work Question Attempts: O of 1 used SAVE FOR LATER SUBHIT ANS Privacy Policy 1 2000-2018 Joho Wiley &Sens.Ins.; All Rights Reserved. A Division of John Wiley & SonsIns

Explanation / Answer

Units sold = 200+140 = 340 Cost of goods sold on FIFO basis = (50*120)+(290*112)= $38480 Option 3 is correct

Related Questions

Navigate

• Browse (All)
• Browse #
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.