Multiple Choice Question 101

Serene Stereos has the following inventory data:

Nov. 1 Inventory 24 units @ $4.80 each 8 Purchase 96 units @ $5.15 each 17 Purchase 48 units @ $5.05 each 25 Purchase 72 units @ $5.30 each

A physical count of merchandise inventory on November 30 reveals that there are 80 units on hand. Cost of goods sold under FIFO is

$404.

$812.

$830.

$422.