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Anton Co. uses the perpetual inventory system and FIFO cost flow method. During the year, Anton...

Anton Co. uses the perpetual inventory system and FIFO cost flow method. During the year, Anton purchased 560 units of inventory that cost $6 each and then purchased an additional 720 units of inventory that cost $8 each. If Anton sells 900 units of inventory, what is the amount of cost of goods sold?

Multiple Choice

  • $7,200

  • $5,400

  • $6,080

  • $7,080

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Answer #1

Answer $6,080

А В Н Purchase qty Per unit Amount Sales qty Per unit Amount Inventory Per unit Amount 560 3360 6 560 6 3360 560 6 3360 4 576

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