Excalibur Company Uses the Perpetual Inventory Method What Is the Cost of Goods Sold for the Month

question 71

Multiple Choice

Excalibur Company uses the perpetual inventory method. Excalibur Company has the following data available for the month of January: $\begin{array}{|c|c|c|c|}\hline \text { Date } & \text { Transaction } & \text { Units } & \text { Unit Cost } \\\hline \text { Jan. } 1 & \text { Beginning inventory } & 200 & \$ 1.00 \\\hline \operatorname{Jan} .9 & \text { Purchase } & 300 & \$ 1.10 \\\hline \text { Jan. } 10 & \text { Sale } & 400 & \\\hline \text { Jan. } 15 & \text { Purchase } & 400 & \$ 1.16 \\\hline \text { Jan. } 18 & \text { Sale } & 300 & \\\hline \operatorname{Jan} .24 & \text { Purchase } & 100 & \$ 1.26 \\\hline\end{array}$
What is the Cost of Goods Sold for the month of January using LIFO?

• A) $778
• B) $810
• C) $762
• D) $766

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Definitions:

Essential Skills Training

Training aimed at equipping individuals with fundamental skills needed for effective performance in the workplace or other environments.

Corporate Objectives

The specific, measurable goals that a company aims to achieve to drive its growth and success.

Interpersonal Skills

The ability to communicate and interact effectively with others, crucial in both personal and professional settings.

Supervisory Skills

The abilities required to manage, guide, and lead teams, ensuring productivity and compliance with standards.