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Given the following data, calculate cost of goods sold using the FIFO costing method. Date Item Unit 1/1 Beginning inventory 33 units at $8 per

Given the following data, calculate cost of goods sold using the FIFO costing method.

Date

Item

Unit

1/1

Beginning inventory

33 units at $8 per unit

2/25

Purchase of inventory

12 units at $10 per unit

5/20

Purchase of inventory

25 units at $14 per unit

8/15

Purchase of inventory

5 units at $12 per unit

10/17

Purchase of inventory

12 units at $18 per unit

12/31

Ending inventory

18 units

A.

$888

B.

$1,004

C.

$720

D.

$1,354

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