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ABC Corp started the year on January 1 with 1,171 inventory units at a cost of $10 per unit. On March 3, the company purchased
ABC Corp started the year on January 1 with 1,171 inventory units at a cost of $10 per unit. On March 3, the company purchased 2,342 units at a unit cost of $18. On March 23, 2,903 units were sold. On May 13, 3,349 units were purchased at a unit cost of $23. Finally, on October 16, 2,363 units were sold. What is the Cost of Goods Sold for the year using the FIFO cost assumption in a perpetual system?
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