Solution-Compute the amount allocated to cost of goods sold

Compute the amount allocated to cost of goods sold for june

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Reference no: EM131813967

Question - A company just starting business made the following four inventory purchases in June.

Date	Number of units purchased	Total cost
June 1	170 units	$360
June 10	240 units	590
June 15	240 units	600
June 28	160 units	470
		$2020

A physical count of merchandise inventory on June 30 reveals that there are 280 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for June is

$1250.

$655.

$770.

$1404.

Reference no: EM131813967

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Compute the amount allocated to cost of goods sold for june

Reference no: EM131813967

Reference no: EM131813967

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