Olympus Climbers Company has the following inventory data: A physical count of merchandise inventory on July 30 reveals that there are 32 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is
A) $620.
B) $660.
C) $1,340.
D) $1,380.

Question

Olympus Climbers Company has the following inventory data:  A physical count of merchandise inventory on July 30 reveals that there are 32 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is
A) $620. 
B) $660. 
C) $1,340. 
D) $1,380.

Quizplus · Accepted Answer

The Answer of Olympus Climbers Company has the following inventory data:  A physical count of merchandise inventory on July 30 reveals that there are 32 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is
A) $620. 
B) $660. 
C) $1,340. 
D) $1,380.

Olympus Climbers Company Has the Following Inventory Data: a Physical