Use the following data to calculate cost of merchandise sold under FIFO method. $$\begin{array} { l l l }
\text { September } 1 & \text { Beginning Inventory } & 15 \text { units at } \$ 20 \text { each } \
\text { September } 10 & \text { Purchase } & 20 \text { units at } \$ 25 \text { each } \
\text { September } 20 & \text { Purchase } & 25 \text { units at } \$ 28 \text { each } \
\text { September } 30 & \text { Ending Inventory } & 30 \text { units }
\end{array}$$
A) $825
B) $750
C) $675
D) $600

Question

Use the following data to calculate cost of merchandise sold under FIFO method. $$\begin{array} { l l l } 
\text { September } 1 & \text { Beginning Inventory } & 15 \text { units at } \$ 20 \text { each } \
\text { September } 10 & \text { Purchase } & 20 \text { units at } \$ 25 \text { each } \
\text { September } 20 & \text { Purchase } & 25 \text { units at } \$ 28 \text { each } \
\text { September } 30 & \text { Ending Inventory } & 30 \text { units }
\end{array}$$
A) $825
B) $750
C) $675
D) $600

Quizplus · Accepted Answer

The Answer of Use the following data to calculate cost of merchandise sold under FIFO method. $$\begin{array} { l l l } 
\text { September } 1 & \text { Beginning Inventory } & 15 \text { units at } \$ 20 \text { each } \
\text { September } 10 & \text { Purchase } & 20 \text { units at } \$ 25 \text { each } \
\text { September } 20 & \text { Purchase } & 25 \text { units at } \$ 28 \text { each } \
\text { September } 30 & \text { Ending Inventory } & 30 \text { units }
\end{array}$$
A) $825
B) $750
C) $675
D) $600

Use the Following Data to Calculate Cost of Merchandise Sold