Klump Co.Klump Co. uses a perpetual inventory system and had…
Klump Co.Klump Co. uses a perpetual inventory system and had the following inventory transactions for the month of June. June 1 On hand, 50 units at $18.00 each $ 900.00 4 Purchased 115 units at $18.20 each $2,093.00 5 Sold 100 units 10 Purchased 75 units at $18.25 each $1,368.75 24 Sold 40 units 30 On hand, 100 units Refer to the information provided for Klump Co. If the company uses the FIFO inventory costing method, cost of goods sold for the month of June is:
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