a. Cost of sales for Product A is based on the FIFO method, and 6,200 units were sold during the current year 2015. The 2014 ending inventory consisted of 1,300 units purchased as follows: 400 units...


a. Cost of sales for Product A is based on the FIFO method, and 6,200 units were sold during the current year 2015. The 2014 ending inventory consisted of 1,300 units purchased as follows: 400 units purchased at a cost of 53 FC per unit throughout the third quarter of 2014 and 900 units purchased at a cost of 55 FC per unit throughout the fourth quarter of 2014. Purchases during the year 2015 were as follows: 1,200 units at a cost of 58 FC per unit throughout the first quarter, 3,000 units at a cost of 59 FC per unit throughout the third quarter, and 1,700 units at a cost of 57 FC per unit throughout the fourth quarter. Determine the 2015 cost of sales for Product A.



Dec 03, 2021
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