Tetra Company uses the perpetual inventory system and a FIFO cost flow method. On January...
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Tetra Company uses the perpetual inventory system and a FIFO cost flow method. On January 1, the company purchased 3,000 units of inventory that cost $7.00 each. On January 12, the company purchased an additional 4,000 units of inventory at a cost of $4.60 each. On January 20, Tetra Company sold 5,000 units of inventory. Which of the following entries would be required to recognize the cost of goods sold on that date? Multiple Choice O Account Title Cost of goods sold Inventory Account Title Cost of goods sold Inventory Account Title Inventory Cost of goods sold Account Title Inventory Cost of goods sold Debit 30,300 Debit 30,200 Debit 30, 200 Debit 30,300 Credit 30,300 Credit 30,200 Credit 30,200 Credit 30,300 
Tetra Company uses the perpetual inventory system and a FiFO cost flow method. On January t, the company purchased 3.000 units of inventory that cost 5,000 units of inventory. Which of the following entries would be reculred to recopnize the cost of goods sold on that date? Multiple Chaice
Tetra Company uses the perpetual inventory system and a FIFO cost flow method. On January 1, the company purchased 3,000 units of inventory that cost $7.00 each. On January 12, the company purchased an additional 4,000 units of inventory at a cost of $4.60 each. On January 20, Tetra Company sold 5,000 units of inventory. Which of the following entries would be required to recognize the cost of goods sold on that date? Multiple Choice O Account Title Cost of goods sold Inventory Account Title Cost of goods sold Inventory Account Title Inventory Cost of goods sold Account Title Inventory Cost of goods sold Debit 30,300 Debit 30,200 Debit 30, 200 Debit 30,300 Credit 30,300 Credit 30,200 Credit 30,200 Credit 30,300
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