The following are the inventory activities of ABCxYZ for the month of April 20x3: ...

60.1K

Verified Solution

Question

Accounting

The following are the inventory activities of ABCxYZ for the month of April 20x3:
April 1: Beginning inventory 40 units at $90/unit
April 3: Purchases 90 units at $88/unit
April 12: Purchases 110 units at 92/unit
April 23: Sales 40 units at $150/unit
April 30: Sales 10 units at $200/unit
How much is the cost of goods sold on the April 23 sales transaction under the FIFO method?
*
$6,000
$3,600
$8,000
$880
$21,640

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