The following hammers were available for sale during the year for Helen Tools:
Helen has 25 hammers on hand at the end of the year. What is the dollar amount of cost of goods sold for the year according to the first-in, first-out method?

Question

The following hammers were available for sale during the year for Helen Tools:
 Helen has 25 hammers on hand at the end of the year. What is the dollar amount of cost of goods sold for the year according to the first-in, first-out method?

Quizplus · Accepted Answer

(10 x $120) + (15 x $150) + (25 x $180) = $7,950

The Following Hammers Were Available for Sale During the Year