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LMN Corporation began its operations in September of 2021. The following inventory transactions occurred during the year. Purchase September 3, 2021 - 10,000 units $250/unit
LMN Corporation began its operations in September of 2021. The following inventory transactions occurred during the year.
Purchase September 3, 2021 - 10,000 units $250/unit
Purchase October 30, 2021 50,000 units $265/unit
Sales from September December - 22,000 units $299/ unit
Under the first-in, first-out (FIFO) method, what is LMN's cost of goods sold for 2021?
a. 5 830 000
b. 5 680 000
c. 5 650 000
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