Use the following information to answer questions (Round to 2 decimal places): The following information...
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Accounting
Use the following information to answer questions (Round to 2 decimal places): The following information has been extracted from the records of Due North Sales (DNS) Co.:
January 1 Beginning Inventory 550 units @ $26 each January 9 Bought 1,000 units @ $28 each January 15 Sold 1,200 units @ $40 each January 25 Bought 750 units @ $30 each
If Due North Sales (DNS) uses the FIFO cost flow assumption, under a periodic method, the cost of goods sold for January, is:
Multiple Choice - None of the other alternatives are correct
- $33,804
- $32,748
- $32,500
- $42,300
Use the following information to answer questions (Round to 2 decimal places): The following information has been extracted from the records of Due North Sales (DNS) Co.:
| January 1 | Beginning Inventory | 550 units @ $26 each |
| January 9 | Bought | 1,000 units @ $28 each |
| January 15 | Sold | 1,200 units @ $40 each |
| January 25 | Bought | 750 units @ $30 each |
If Due North Sales (DNS) uses the FIFO cost flow assumption, under a periodic method, the cost of goods sold for January, is:
Multiple Choice
- None of the other alternatives are correct
- $33,804
- $32,748
- $32,500
- $42,300
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