Use the Information Below to Answer the Following Question(s)

question 73

Multiple Choice

Use the information below to answer the following question(s) .Canadian Oil Company manufactures cooking oils.All direct materials are added at the beginning of the production process.The company currently uses the FIFO method.Data for the month of July is listed below.
-What is the amount of goods transferred-out during the month assuming no labour or conversion costs?

• A)$398,950
• B)$383,400
• C)$378,000
• D)$357,000
• E)$391,000

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