On December 31 of last year, Wolfson Corporation had in inventory 400 units of its product, which cost $21 per unit to produce. During January, the company produced 800 units at a cost of $24 per unit. Assuming that Wolfson Corporation sold 700 units in January, what was the cost of goods sold (assume FIFO inventory accounting)?

Question

On December 31 of last year, Wolfson Corporation had in inventory 400 units of its product, which cost $21 per unit to produce.  During January, the company produced 800 units at a cost of $24 per unit.  Assuming that Wolfson Corporation sold 700 units in January, what was the cost of goods sold (assume FIFO inventory accounting)?

Annie · Answer

15,600 units sold

Hokcheang · Answer

I only want find the answer of exercise