Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. montana great outdoors had the following inventory

Montana Great Outdoors had the following inventory in fiscal 2012. The company uses the FIFO...

70.2K

Verified Solution

Question

Accounting

Montana Great Outdoors had the following inventory in fiscal 2012. The company uses the FIFO method of accounting for inventory.

Beginning inventory, August 1, 2011: 140 units at $19.50.

Purchase 300 units at $19.00

Purchase 50 units at $20

Purchase 120 units at $20.30

Ending inventory, July 31, 2012, 130 units

The companies cost of goods sold for fiscal 2012 is:

a. $9,230

b. $2,636

c. $9,331

d. $11,866

e. None of the above

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Advance Math
1.2K views

Let Q1=y(2) Q2 =y(3) where y=y(x) solves y'+2xy=2x^3     y(0)=1 dy/dx= (2x-y)/(x+4y)     y(1)=1 y'+ycotx=y^3sin^3x      y(pi/2)=1 (y^2-2x)dx+2xy dy=0    y(1)=1 2x^2y;+4xy=3sinx    y(2pi)=0 y"+2y^-1 (y')^2=y'

Physics
1.2K views

A very long cylinder is carrying a current lo distributed uniformly over its cross section...

Basic Math
1.2K views

A 2012 Gallup survey of a random sample of 1014 American adults indicates that American...

Basic Math
1.2K views

Geometry Formula Sheet Given the similar triangles below AEDF A BAC set up an equation...

Statistics
1.2K views

A simple random sample of size n 17 is drawn from a population that is...

Calculus
1.2K views

QUESTION 5 Simplify 2 3 12 3 I

Calculus
1.2K views

Find the degree measure that corresponds to the given radian measure E00 O a 70...

Accounting
1.2K views

whats the accounting issue in the following scenario? In June, the exclusive rights to a...

Accounting
1.2K views

Special Order? Chapter 8: Special Orders Watson Company produces kitchen cabinets...

Accounting
1.2K views

Comprehensive Tax Project: Using the scenario outlined in the Comprehensive Tax Return, prepare a letter...

Accounting
1.2K views

Dirickson Inc. has provided the following data concerning one of the products in its standard...

Finance
1.2K views

Question 20 5 pts Ashley turned 30 today, and she is planning to save $3,000...