Answer: Question 17 Singh Computer Shop begins operations on June 1 and uses a perpetual inventory system. During June, the company had the following purchases and sales for its Model 10 Fastback Computer System: Purchases Units Unit Cost 4 $2,000 Date June Sales (Units) 1 5 2 9 $2,600 9 16 3 Using the FIFO cost formula, the amount allocated to cost of goods sold for June is a $10,000 b. $10,600. $13,000 d. $20,800