Use the following information to answer:
The following data represent the beginning inventory and, in the order of occurrence, the purchases and sales of Mullenax Company for an operating period.

-Assuming Mullenax Company uses FIFO perpetual inventory procedures, sale No. 1 is recorded 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 the order of occurrence, the purchases and sales of Mullenax Company for an operating period. 
 
-Assuming Mullenax Company uses FIFO perpetual inventory procedures, sale No. 1 is recorded as an entry to Cost of Goods Sold for:

Quizplus · Accepted Answer

(20 x $87) + (10 x $93) = $2,670

Use the Following Information to Answer