Shandy Shutters has the following inventory information. A physical count of merchandise inventory on November 30 reveals that there are 100 units on hand. Assume a periodic inventory system is used. Assuming that the specific identification method is used and that ending inventory consists of 30 units from each of the three purchases and 10 units from the November 1 inventory, cost of goods sold is
A) €640.
B) €1,286.
C) €1,280.
D) €1,254.

Question

Shandy Shutters has the following inventory information.  A physical count of merchandise inventory on November 30 reveals that there are 100 units on hand. Assume a periodic inventory system is used. Assuming that the specific identification method is used and that ending inventory consists of 30 units from each of the three purchases and 10 units from the November 1 inventory, cost of goods sold is
A) €640. 
B) €1,286. 
C) €1,280. 
D) €1,254.

Quizplus · Accepted Answer

The Answer of Shandy Shutters has the following inventory information.  A physical count of merchandise inventory on November 30 reveals that there are 100 units on hand. Assume a periodic inventory system is used. Assuming that the specific identification method is used and that ending inventory consists of 30 units from each of the three purchases and 10 units from the November 1 inventory, cost of goods sold is
A) €640. 
B) €1,286. 
C) €1,280. 
D) €1,254.

Shandy Shutters Has the Following Inventory Information