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ABC company has the following inventory information. What amount is cost of goods sold if FIFO is used? 1-Jun Beginning Inventory 20 Quantity 2 Price

ABC company has the following inventory information. What amount is cost of goods sold if FIFO is used?

1-Jun

Beginning Inventory

20 Quantity

2 Price

8-Jun

Purchase

15 Quantity

3 Price

14-Jun

Sale

25 Quantity

7 Price

20-Jun

Purchase

20 Quantity

4 Price

Select one:

a.170

b.110

c.70

d.55

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