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A retailer made the following inventory purchases in February. Purchased 225 units at $7 each on Feb. 1. Purchased 400 units at $8 each on
A retailer made the following inventory purchases in February. Purchased 225 units at $7 each on Feb. 1. Purchased 400 units at $8 each on Feb. 10. Purchased 100 units at $9 each on Feb. 28. On Feb. 15, there were 300 units sold. The retailer used a perpetual inventory system. Using the FIFO cost formula, the cost of goods sold for the Feb. 15 sale was: Select one: O a. $2,800. O b. $ 2,175. O c. $ 1,525. d. $ 3,500. e. $ 5,675
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