Multiple Choice Question 75

[Incorrect answer.] Your answer is incorrect. Try again.

Wildhorse Co. has the following inventory data:

July 1 Beginning inventory 32 units at $21 $672 7 Purchases 113 units at $22 2486 22 Purchases 16 units at $24 384 $3542

A physical count of merchandise inventory on July 30 reveals that there are 52 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for July is [Entry field with incorrect answer]

$2430.

$1176.

$1112.

$2366.