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Assume Red Rover began June with 52 units of merchandise inventory, with a cost of $17 per unit. During June, Red Rover purchased and sold
Assume Red Rover began June with 52 units of merchandise inventory, with a cost of $17 per unit. During June, Red Rover purchased and sold goods as follows:
June 8 | Purchase | 42 units @ $15 |
14 | Sale | 60 units @ $40 |
22 | Purchase | 28 units @ $25 |
27 | Sale | 42 units @ $40 |
Under the FIFO inventory costing method, how much is Red Rovers cost of goods sold for the sale on June 14?
$510
$2,400
$1,004
$936
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