Using a perpetual inventory system. This company's beginning inventory of a product and its purchases during the month of January were as follows. Quantity Unit Cost Total Cost Beginning inventory(Jan...


Using a perpetual inventory system. This company's beginning inventory of a product and its purchases during the month of January were as follows.


                                         Quantity    Unit Cost     Total Cost


Beginning inventory(Jan 1)   180             $50                   $9,000


Purchase(Jan. 9)                     90               $55                   $4,950


Purchase(Jan. 22)                   90              $56                   $5,040


Total                                      360                                     $18,990


On Jan 24. the company sold 200 units of this product. The other 160 units remain in inventory at Jan. 31.


Determine the Cost of Goods Sold using LIFO, FIFO, and Average Cost.



Jun 01, 2022
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