Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and the Yahoo Answers website is now in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

how to solve this accounting problem?

On January 1st, 5th, and 12th, company A purchased inventories 3,000 units for $75,000; 4,000 units for $112,000; and 2,500 units for $65,000, respectively. On January 9th and 13th, it sold 2,800 units @ $50 per each and 5,000 units @ $52 per each. How much does the cost of good sold (COGS) cost if the company applied FIFO method?

3 Answers

  • 2 months ago

    Units remaining = 3000+4000+2500-2800-5000 = 1700

    Cost of remaining units = 1700 x 65000/2500 = 44200

    COGS = 75000+112000+65000-44200 = 207800

  • Anonymous
    2 months ago

    By reading how to do it in the book. 

  • Anonymous
    2 months ago

    move to homework help damn cheater

Still have questions? Get your answers by asking now.