Determine the cost of goods sold assuming the company uses the FIFO cost flow method.

a. \(\$ 3,400\)

b. \(\$ 10,000\)

c. \(\$ 10,200\)

d. \(\$ 2,400\)

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Inventory data for Newman & Frith Merchandisers Inc. is provided here. Sales for the pe- riod were 2,800 units. Each sold for $8. The company maintains a periodic inventory system. Number of Units Unit Cost Total Cost Date January Beginning inventory February Purchases March Purchases April Purchases Totals 1,000 $3.00 $ 3,000 600 $3.50 $ 2,100 800 $4.00 $ 3,200 1,200 $4.25 $ 5,100 3,600 $13,400