Business, 27.11.2019 22:31 alyo31500

Tetra company purchased 2,000 units of inventory that cost $4.00 each on january 1, 2016. an additional 3,000 units of inventory were purchased on january 12, 2016 at a cost of $4.20 each. tetra company sold 4,000 units of inventory on january 20, 2016. which of the following entries would be required to recognize the cost of goods sold assuming that tetra co. uses the perpetual inventory method and a fifo cost flow method?
a)inventory 16,400
cost of goods sold 16,400
b)cost of goods sold 16,600
inventory 16,600
c)cost of goods sold 16,400
inventory 16,400
d) inventory 16,600
cost of goods sold 16,600

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Tetra company purchased 2,000 units of inventory that cost $4.00 each on january 1, 2016. an additio...

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