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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

Accounting Nov 29, 2020

 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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