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Inventory Records for Marvin Company Revealed the Following Marvin Sold 2,300 Units of Inventory During the Month

Question 19

Multiple Choice

Inventory records for Marvin Company revealed the following:
 Date  Transaction  Number  of Units  Unit  Cost  Mar. 1  Beginning inventory 1,000$7.20 Mar. 10  Purchase 6007.25 Mar. 16  Purchase 8007.30 Mar. 23  Purchase 6007.35\begin{array} { l l c r } \text { Date } & { \text { Transaction } } & \begin{array} { c } \text { Number } \\\text { of Units }\end{array} & \begin{array} { r } \text { Unit } \\\text { Cost }\end{array} \\\text { Mar. 1 } & \text { Beginning inventory } & 1,000 & \$ 7.20 \\\text { Mar. 10 } & \text { Purchase } & 600 & 7.25 \\\text { Mar. 16 } & \text { Purchase } & 800 & 7.30 \\\text { Mar. 23 } & \text { Purchase } & 600 & 7.35\end{array}
Marvin sold 2,300 units of inventory during the month.Cost of goods sold assuming LIFO would be:


A) $16,800.
B) $16,760.
C) $16,540.
D) $16,660.

Correct Answer:

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