A company has the following purchases and sales during March. Using the FIFO perpetual inventory method, what was the cost of the 22 units sold? Date Activities Units Acquired at Cost Units Sold at Retail March 1 Beginning inventory 10 units @ $21 = $210 March 2 Purchase 10 units @ $23 = $230 March 6 Purchase 6 units @ $26 = $156 March 8 Sales 22 units @ $55

• Multiple choice

• $492

• $513

• $471

• $596

• $544