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Assume Fairprice.com began March with 10 units of inventory that cost a total of $160. During March, Fairprice.com purchased and sold goods as follows: Mar.
Assume
Fairprice.com
began
March
with
10
units of inventory that cost a total of
$160.
During
March,
Fairprice.com
purchased and sold goods as
follows:
Mar. | 8 | Purchase | 30 units @ $17 | ||
14 | Sale | 25 units @ $34 | |||
22 | Purchase | 20 units @ $19 | |||
27 | Sale | 30 units @ $34 |
Under the FIFO inventory costing method and the perpetual inventory system, how much is
Fairprice.com's
cost of goods sold for the sale on
March
14?
A.
$425
B.
$415
C.
$670
D.
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