Multiple Choice
Grays Company has inventory of 10 units at a cost of $10 each on August 1.On August 3,it purchased 20 units at $12 each.12 units are sold on August 6.Using the FIFO perpetual inventory method,what amount will be reported as cost of goods sold for the 12 units that were sold?
A) $120.
B) $124.
C) $128.
D) $130.
E) $140.
Correct Answer:
Verified
Correct Answer:
Verified
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