I'm confused, can you show your work as to how you calculate the numbers so that I can understand the concept. Thank you!!

Lincoln Lumber Co. uses a perpetual inventory system and uses the FIFO cost flow assumption. During the month, it had two sales. Calculate the dollar value of its cost of goods sold for the first sale made on Jan. 10.

Date	Activity
Jan 1	Beginning Inventory	8 @ $12 = $96
Jan 5	Purchase	12 @ $15= $180
Jan 25	Purchase	10 @ $18= $180
Jan 10	Sale	11 @ $50 each
Jan 30	Sale	3 @ $55 each

Multiple choice question.

$180

$550

$195

$141