Use the following information to answer:
The following represents the inventory of Kailey Company for the month of April:

-Assuming a periodic inventory system is used by Kailey Company, what is cost of goods sold under FIFO?

Question

Use the following information to answer:
The following represents the inventory of Kailey Company for the month of April:
 
-Assuming a periodic inventory system is used by Kailey Company, what is cost of goods sold under FIFO?

Quizplus · Accepted Answer

(100 x $16) + (300 x $24) + (100 x $32) = $12,000

Use the Following Information to Answer