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Business, 23.04.2020 17:20 Tcareyoliver

Beech Soda, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows: Quantity Unit Cost Total Cost Beginning inventory (Jan. 1) 22 $ 20 $ 440 Purchase (Jan. 11) 21 $ 26 546 Purchase (Jan. 20) 32 $ 28 896 Total 75 $ 1,882 On January 14, Beech Soda, Inc. sold 34 units of this product. The other 41 units remained in inventory at January 31. Assuming that Beech Soda uses the FIFO cost flow assumption, the cost of goods sold to be recorded at January 14 is:

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