Lauer Corporation uses the periodic inventory system and has provided the following information about one of its laptop computers: During the year, Lauer sold 750 laptop computers. What was cost of goods sold using the FIFO cost flow assumption?
A)$725,000.
B)$740,000.
C)$735,000.
D)$720,000.

Question

Lauer Corporation uses the periodic inventory system and has provided the following information about one of its laptop computers:  During the year, Lauer sold 750 laptop computers. What was cost of goods sold using the FIFO cost flow assumption?
A)$725,000. 
B)$740,000. 
C)$735,000. 
D)$720,000.

Quizplus · Accepted Answer

The Answer of Lauer Corporation uses the periodic inventory system and has provided the following information about one of its laptop computers:  During the year, Lauer sold 750 laptop computers. What was cost of goods sold using the FIFO cost flow assumption?
A)$725,000. 
B)$740,000. 
C)$735,000. 
D)$720,000.

Lauer Corporation Uses the Periodic Inventory System and Has Provided