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Given the following data, what is the cost of goods sold as determined under the FIFO method if XYZ Auto Parts sold 350 units at $54 per unit? Information Number of Units Unit Cost 100 $28 Beginning Inventory on 1/1 Inventory Purchases on 1/5 300 $17 Fill in the blank with your calculated number
Given the following data, what is the cost of goods sold as determined under the FIFO method if XYZ Auto Parts sold 350 units at $54 per unit? Information Number of Units Unit Cost 100 $28 Beginning Inventory on 1/1 Inventory Purchases on 1/5 300 $17 Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123
Expert Solution
7050 is corret answer
Detail Working for your easy udnerstanding
| Costof Good Sold as per FIFO | |
| 100X28 | 2800 |
| 250X17 | 4250 |
| Total COGS | 7050 |
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