11.

During July, the following purchases and sales were made by Concord Company. There was no beginning inventory. Concord Company uses a perpetual inventory system.

Purchases Sales

July3 34 units @ $16 July 13 36 units

11 34 units @ $17 22 19 units

20 19 units @ $19

Under the FIFO method, the cost of goods sold for each sale is:

July 13 July 22

a.$684 $361

b.$578 $323

c.$612 $323

d.$646 $304

its multiple choice