Use the following information to answer:
The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Ilse's Garden, Inc., for an operating period.

-Assuming Ilse's Garden, Inc. uses FIFO perpetual inventory procedures, it records sale No. 2 as an entry to Cost of Goods Sold for:

Question

Use the following information to answer:
The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Ilse's Garden, Inc., for an operating period.
 
-Assuming Ilse's Garden, Inc. uses FIFO perpetual inventory procedures, it records sale No. 2 as an entry to Cost of Goods Sold for:

Quizplus · Accepted Answer

(10 x $21) + (30 x $30) = $1,110

Use the Following Information to Answer