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Determine the cost of goods sold to be recorded at january

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Beech Soda, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows:

QuantityUnit CostTotal Cost

Beginning inventory (Jan. 1) 23 $14 $322

Purchase (Jan. 11) 15 $20 300

Purchase (Jan. 20) 26 $22 572

Total 64 $1,194

  1. On January 14, Beech Soda, Inc. sold 28 units of this product. The other 36 units remained in inventory at January 31.
  2. MC Qu. 66 Assuming that Beech Soda uses the FIFO cost flow...

Question 1: Assuming that Beech Soda uses the FIFO cost flow assumption, the cost of goods sold to be recorded at January 14 is?

Reference no: EM132487221

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