Harris,Inc.had the Following Balances and Transactions During 2017

question 24

Multiple Choice

Harris,Inc.had the following balances and transactions during 2017:

What would be reported for Cost of Goods Sold on the income statement for the year ending December 31,2017 if the perpetual inventory system and the last-in,first-out inventory costing method are used?

• A)$11,650
• B)$7,900
• C)$3,750
• D)$11,250

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