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Chess Top uses the periodic inventory system. For the current month, the beginning inventory consisted of 200 units that cost $65 each. During the month,
Chess Top uses the periodic inventory system. For the current month, the beginning inventory consisted of 200 units that cost $65 each. During the month, the company made this purchases: 300 units at $68 each and 150 units at $70 each. Chess Top also sold 500 units during the month. Using the FIFO method, what is the amount of cost of goods sold for the month? a. $33,770. (3 marks) b. $32,500. c. $34,150. d. $33,400
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