Aiello, Inc. had the following inventory in its fiscal year. The company uses the FIFO method of accounting for inventor

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Aiello Inc Had The Following Inventory In Its Fiscal Year The Company Uses The Fifo Method Of Accounting For Inventor 1 (19.15 KiB) Viewed 10 times

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Aiello, Inc. had the following inventory in its fiscal year. The company uses the FIFO method of accounting for inventory. Beginning Inventory, January 1: 195 units @ $15.00 Purchase 300 units @ $18.00 Purchase Purchase Ending Inventory, December 31: 180 units The company's cost of goods sold for its fiscal year is: Select one: 75 units@ $13.50 165 units@ $15.75 O a. None of these are correct. b. $9,101.25 c. $9,236.25 d. $9,135.00 e. $7,958.63 G

A company reported cost of goods sold of $826,800 for the year. During the year, inventory increased from a $180,000 beginning balance to a $216,000 ending balance, and accounts payable increased from a $56,400 beginning balance to a $66,000 ending balance. How much cash was paid for merchandise purchased during the year? Select one: a. $800,400 b. $862,800 c. $853,200 d. $826,800 e. None of these are correct Check

Aiello, Inc. had the following inventory in its fiscal year. The company uses the LIFO method of accounting for inventory. Beginning Inventory, January 1: 130 units @ $15.00 Purchase 200 units @ $18.00 Purchase units @ $13.50 50 110 units @ $15.75 Purchase Ending Inventory, December 31: 120 units The company's cost of goods sold for its fiscal year is: Select one: O a. $5,305.75 b. $1,800.00 c. $6,157.50 d. $6,090.00 e. None of these are correct.