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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?
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?
DateActivitiesUnits Acquired at CostUnits Sold at RetailMarch 1Beginning inventory10 units @ $39 = $390 March 2Purchase10 units @ $41 = $410 March 6Purchase6 units @ $44 = $264 March 8Sales 22 units @ $73
Multiple Choice
$888
$927
$849
$1,064
$976
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