Solved

Use This Inventory Information for the Month of June to Answer

Question 98

Multiple Choice

Use this inventory information for the month of June to answer the following question.  June 1 Beginning inventory 10 units @ $1205 Purchase 60 units @$11214 Sale 40 units 21 Purchase 30 units @ $11630 Sale 28 units \begin{array}{llll}\text { June } & 1 & \text { Beginning inventory } & 10 \text { units @ } \$120\\& 5 & \text { Purchase } & 60 \text { units } @ \$ 112\\&14 & \text { Sale } & 40 \text { units } \\&21 & \text { Purchase } & 30 \text { units @ } \$ 116 \\&30 & \text { Sale } & 28 \text { units }\end{array}
What is cost of goods sold under the specific identification method?


A) More information is needed.
B) $3,704
C) $7,696
D) $7,736

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents