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Karen Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for

Karen Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for the month of March. Karen Company uses the perpetual inventory system.

Purchases Sales
Units Unit Cost Units Selling Price/Unit

3/1

Beginning inventory

95 $42

3/3

Purchase

65 $51

3/4

Sales

55 $80

3/10

Purchase

205 $60

3/16

Sales

85 $90

3/19

Sales

70 $85

3/25

Sales

65 $90

3/30

Purchase

35 $65

(a)

Using the FIFO assumption, calculate the amount charged to cost of goods sold for March.

Cost of goods sold $

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