Marvin sold 2,300 units of inventory during the month. Cost of goods sold assuming FIFO would be:

(Nobody has really written out their work. Please be detailed as possible so I can understand the formula.)

Date Transaction Mar. 1 Beginning inventory Mar. 10 Purchase Mar. 16 Purchase Mar. 23 Purchase Number of Units 1,000 600 800 600 Unit Cost $7.20 7.25 7.30 7.35