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14. A company purchases and sells lamps. Beginning inventory at 1 March is 10 units at a cost of $12 each. During the month its
14. A company purchases and sells lamps. Beginning inventory at 1 March is 10 units at a cost of $12 each. During the month its purchases and sales were as follows: Date Purchased Purchase Price Sold March 3: 10 units $14 March 7: 15 units March 12: 15 unit $16 March 25: 10 units What was the value of Cost of Goods Sold using the FIFO assumption? a. $380 b. $300 c. $340 d. $400
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