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The SOS corporation uses FIFO for its inventory accounting. …

Posted byAnonymous November 1, 2021January 12, 2024

Questions

The SOS cоrpоrаtiоn uses FIFO for its inventory аccounting.  It hаs an initial Inventory of 8,510 widgets on 12/31/2012 with a unit cost of $3.0 (total cost of 25,530.0).  The company bought 20 widgets with unit cost of $2.5 on 2/3/2013.  The company bought 140 with a unit cost of $3.0 on 6/6/2013.  Finally, the company bought 500 widgets with a unit cost of $3.5 on 9/9/2013.  During 2013, the company sold 9020 number of widgets.  What is the cost of goods sold for the year ending on 12/31/2013?

The SOS cоrpоrаtiоn uses FIFO for its inventory аccounting.  It hаs an initial Inventory of 8,510 widgets on 12/31/2012 with a unit cost of $3.0 (total cost of 25,530.0).  The company bought 20 widgets with unit cost of $2.5 on 2/3/2013.  The company bought 140 with a unit cost of $3.0 on 6/6/2013.  Finally, the company bought 500 widgets with a unit cost of $3.5 on 9/9/2013.  During 2013, the company sold 9020 number of widgets.  What is the cost of goods sold for the year ending on 12/31/2013?

The SOS cоrpоrаtiоn uses FIFO for its inventory аccounting.  It hаs an initial Inventory of 8,510 widgets on 12/31/2012 with a unit cost of $3.0 (total cost of 25,530.0).  The company bought 20 widgets with unit cost of $2.5 on 2/3/2013.  The company bought 140 with a unit cost of $3.0 on 6/6/2013.  Finally, the company bought 500 widgets with a unit cost of $3.5 on 9/9/2013.  During 2013, the company sold 9020 number of widgets.  What is the cost of goods sold for the year ending on 12/31/2013?

The SOS cоrpоrаtiоn uses FIFO for its inventory аccounting.  It hаs an initial Inventory of 8,510 widgets on 12/31/2012 with a unit cost of $3.0 (total cost of 25,530.0).  The company bought 20 widgets with unit cost of $2.5 on 2/3/2013.  The company bought 140 with a unit cost of $3.0 on 6/6/2013.  Finally, the company bought 500 widgets with a unit cost of $3.5 on 9/9/2013.  During 2013, the company sold 9020 number of widgets.  What is the cost of goods sold for the year ending on 12/31/2013?

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