Solution-What was cost of goods sold using the fifo cost

What was cost of goods sold using the fifo cost flow

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Reference no: EM131736294

Question - RJ Corporation has provided the following information about one of its inventory items:

Date	Transaction	Number of Units	Cost per Unit
1/1	Beginning Inventory	412	3,260
6/6	Purchase	812	3,660
9/10	Purchase	1,260	4,060
11/15	Purchase	812	4,320

During the year, RJ sold 3,060 units.

What was cost of goods sold using the FIFO cost flow assumption under a periodic inventory system?

A. $12,028,960.

B. $11,918,960.

C. $12,012,060.

D. $12,169,120.

Reference no: EM131736294

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What was cost of goods sold using the fifo cost flow

Reference no: EM131736294

Reference no: EM131736294

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