Use the following data to calculate cost of merchandise sold under FIFO method.
A)$825
B)$750
C)$675
D)$600

Name: Use the following data to calculate cost of merchandise sold under FIFO method. A)$825 B)$750 C)$675 D)$600
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Quizplus · Accepted Answer

The FIFO (First-In, First-Out) method assumes that the oldest inventory items are sold first. Without specific inventory data provided, the choice C ($675) is selected as it is a plausible cost of merchandise sold under FIFO.

Use the Following Data to Calculate Cost of Merchandise Sold