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Lemur Corporation uses the periodic inventory system and has provided the following information about one of its laptop computers: Date Transaction Number of Units Cost

Lemur Corporation uses the periodic inventory system and has provided the following information about one of its laptop computers:

Date

Transaction

Number of Units

Cost per Unit

1/1

Beginning Inventory

270

$970

5/5

Purchase

370

$1,070

8/10

Purchase

470

$1,170

10/15

Purchase

285

$1,220

During the year, Lemur sold 1,175 laptop computers. What was cost of goods sold using the FIFO cost flow assumption?

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