A company had the following purchases and sales during its first year of operations: On December 31,there were 26 units remaining in ending inventory.
-Using the periodic FIFO inventory costing method,what is the value of cost of goods sold? (Assume all sales were made on the last day of the month.)
A)$8,670.
B)$3,540.
C)$5,400.
D)$5,130.
E)$3,270.

Question

A company had the following purchases and sales during its first year of operations:  On December 31,there were 26 units remaining in ending inventory.
-Using the periodic FIFO inventory costing method,what is the value of cost of goods sold? (Assume all sales were made on the last day of the month.)
A)$8,670. 
B)$3,540. 
C)$5,400. 
D)$5,130. 
E)$3,270.

Quizplus · Accepted Answer

The Answer of A company had the following purchases and sales during its first year of operations:  On December 31,there were 26 units remaining in ending inventory.
-Using the periodic FIFO inventory costing method,what is the value of cost of goods sold? (Assume all sales were made on the last day of the month.)
A)$8,670. 
B)$3,540. 
C)$5,400. 
D)$5,130. 
E)$3,270.

A Company Had the Following Purchases and Sales During Its