A Company's Inventory Records Indicate the Following Data for the Month

question 65

Essay

A company's inventory records indicate the following data for the month of January:
$$\begin{array} { | l | l | l | } \hline \text { Jan. } 1 & \text { Beginning } & 180 \text { units at } \$ 9 \text { each } \\\hline \text { Jan. 5 } & \text { Purchased } & 170 \text { units at } \$ 10 \text { each } \\\hline \text { Jan. 9 } & \text { Sold } & 300 \text { units at } \$ 35 \text { each } \\\hline \text { Jan. } 14 & \text { Purchased } & \text { 200units at } \$ 11 \text { each } \\\hline \text {Jan. 20 } & \text { Sold } & 150 \text { units at } \$ 35 \text { each } \\\hline \text { Jan. 30 } & \text { Purchased } & \text { 230units at } \$ 12 \text { each } \\\hline\end{array}$$
If the company uses the last-in,first-out perpetual inventory system,what is the amount of cost of goods sold for January?

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Definitions:

EPS

Earnings Per Share, a key financial indicator used to measure the profitability of a company, calculated as the net income divided by the number of outstanding shares.

Intrinsic Value

The inherent worth of an asset, distinct from its market value, based on its fundamental characteristics.

ROE

Return on Equity, a measure of a corporation's profitability that reveals how much profit a company generates with the money shareholders have invested.

Required Return

The minimum expected return an investor demands for holding a particularly risky investment.