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During July, the Following Purchases and Sales Were Made by Phast

Question 62

Multiple Choice

During July, the following purchases and sales were made by Phast Company. There was no beginning inventory. Phast Company uses a perpetual inventory system. During July, the following purchases and sales were made by Phast Company. There was no beginning inventory. Phast Company uses a perpetual inventory system. Under the FIFO method, the cost of goods sold for each sale is: July 13 July 22 A) $700 $280 B) 710 300 C) 750 300 D) 800 320 Under the FIFO method, the cost of goods sold for each sale is: July 13 July 22


A) $700 $280
B) 710 300
C) 750 300
D) 800 320

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