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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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