0 Required information Beech Soda, Inc. uses a perpetual inventory system. The c

Question

0 Required information Beech Soda, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and ts purchases during the month of January were as folows Part 1 of 5 Quantity Unit Total Cost Cost Boginning inventory (Jan 1) Purchase (Jan. 11) Purchase (Jan. 20) Total 22 17 $ 374 414 125 points 18 S 23 2 au On January 14, Beech Soda inc. soid 3t unets of this product. The other 38 unts remained in inventory at January 31 Assuming that Beech Soda uses the FIFO cost flow assumption, the cosfof goods sold to be recorded at January 14 is Mutiple Choice $867 1.513 5581 1235 32 Bil Next

Explanation / Answer

Calculate cost of goods sold under FIFO :

so answer is c) $581

FIFO No of units available for sale 69 Cost of goods available for sales 1513 Ending inventory (29*25+9*23) 932 Cost of goods sold 581

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