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Intercontinental, Incorporated, uses a perpetual inventory system. Consider the following information about its inventory: August 1,
purchased 10 units for $910 or $91 per unit; August 3, purchased 15 units for $1,590 or $106 per unit; August
14, sold 20 units; August
17, purchased 20 units for $2,300 or $115 per unit; August 28, purchased 10 units for $1,190 or $119 per unit; August 30, sold 23 units.
Using FIFO, the cost of goods sold for the sale of 23 units on August 30 is
and the inventory balance at August 30 is
Sagot :
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