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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
Harris, Inc. had the following balances and transactions during 2017:

Beginning Merchandise Inventory as of January 1, 2017   160 units at $70
March 10   Sold 80 units
June 10   Purchased 175 units at $77
October 30   Sold 175 units

What would be reported for Cost of Goods Sold on the income statement for the year ending December 31, 2017 if the perpetual inventory system and the last-in, first-out inventory costing method are used?
A) $17,850
B) $5,600
C) $19,075
D) $13,475
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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Mrgo-breedMrgo-breed
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7 years ago
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H3Ko Author
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#2
7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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#3
3 years ago
Thanks
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