On December 31 of last year, Wilson
Corporation had an inventory of 510 units of
its
product, which cost $10 per unit to produce.
During January, the company produced 600
units at a cost of $15 per unit. Assuming that
Wilson Corporation sold 800 units in January,
7. What is the cost of goods sold
using FIFO inventory valuation
method?
a. $9,450
b. $8,000
c. $12,000
d. $11,000
8. What is the cost of goods sold
using LIFO inventory valuation
method?
a. $9,450
b. $8,000
c. $12,000
d. $11,000