Beech Soda, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows:

	Quantity			Unit Cost			Total Cost
Beginning inventory (Jan. 1)		16		$	10		$	160
Purchase (Jan. 11)		14		$	12			168
Purchase (Jan. 20)		23		$	15			345
Total		53					$	673

On January 14, Beech Soda, Inc. sold 25 units of this product. The other 28 units remained in inventory at January 31.

MC Qu. 66 Assuming that Beech Soda uses the FIFO...

Assuming that Beech Soda uses the FIFO cost flow assumption, the cost of goods sold to be recorded at January 14 is:

• $393.

• $278.

• $673.

• $268.