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Beeson Co. has the following information regarding its dishwasher inventory in the first quarter of...

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Question

Accounting

Beeson Co. has the following information regarding its dishwasher inventory in the first quarter of 2013:

Beginning inventory on 1/1/2013 45 units sold each cost $500
Sale on 1/19/2013 40 units sold each sold for $800
Purchase on 2/15/2013 30 units sold each cost $550
Purchase on 3/11/2013 20 units sold each cost $600
Sale on 3/31/2013 35 units sold each sold for $800

What should be the cost of goods sold in the first quarter if Beeson uses perpetual inventory system and FIFO?

Question 30 options:

$41,000

$38,500

$39,000

$39,500

Answer & Explanation Solved by verified expert
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