Cost of Goods Sold using FIFO
Not what you're looking for?
Scuba Styles began their business in June with 50 wetsuits that cost $45 each. During June the store made the following purchases.
Date Units Purchased Cost Per unit Total Cost
10-Jun 90 $46.00 $4,140.00
21-Jun 50 $48.00 $2,400.00
27-Jun 120 $47.50 $5,700.00
Total 260 $12,240.00
What is Scuba Styles cost of goods sold under FIFO, assuming the company sold 150 wetsuits during June?
Purchase this Solution
Solution Summary
The solution explains how to calculate Cost of Goods Sold using FIFO.
Purchase this Solution
Free BrainMass Quizzes
Operations Management
This quiz tests a student's knowledge about Operations Management
IPOs
This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)
Transformational Leadership
This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.
Learning Lean
This quiz will help you understand the basic concepts of Lean.
Income Streams
In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.