Vango, Inc. sells part number 86z to auto parts stores around the world. Informa
ID: 2503882 • Letter: V
Question
Vango, Inc. sells part number 86z to auto parts stores around the world. Information about part number 86Z is contained in the table below. Vango uses a FIFO periodic inventory system.
2000 * 8.0 = 16,000
3,000 * 8.2 = 24,600
5,000 * 8.6 = 43,000
+___________________________
10,000 = 83600
A. Cost of goods sold is $34,440 and ending inventory is $49,200
B. Cost of goods sold is $51,200 and ending inventory is $32,400
C. Cost of goods sold is $50,160 and ending inventory is $33,440
D. Cost of goods sold is $49,200 and ending inventory is $34,400
Explanation / Answer
TOTAL UNITS PURCHASED = 10000 UNITS
UNITS LEFT UNSOLD i.e. ENDING INVENTORY = 4000 UNITS
THEREFORE, UNITS SOLD = 10000
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