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Chase Company Uses the Perpetual Inventory Method

Question 65

Multiple Choice

Chase Company uses the perpetual inventory method. The inventory records for Chase reflected the following information: Chase Company uses the perpetual inventory method. The inventory records for Chase reflected the following information: Assuming Chase uses a FIFO cost flow method, what is the cost of goods sold for the sales transaction on January 31? A) $1,020 B) $1,005 C) $1,045 D) $340 Assuming Chase uses a FIFO cost flow method, what is the cost of goods sold for the sales transaction on January 31?


A) $1,020
B) $1,005
C) $1,045
D) $340

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