Inventory records for Marvin Company revealed the following: Date Transaction Number of Units Unit Cost...
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Accounting
Inventory records for Marvin Company revealed the following:
Date Transaction Number of Units Unit Cost
Mar. 1 Beginning inventory 990 $ 7.18
Mar. 10 Purchase 580 7.60
Mar. 16 Purchase 710 8.06
Mar. 23 Purchase 530 8.46
Marvin sold 1,920 units of inventory during the month. Cost of goods sold assuming FIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.)
Multiple Choice
$16,987.
$16,243.
$15,332.
$14,337.
Answer & Explanation
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