Multiple-Choice Exercise 6-16

Morgan Inc. has the following units and costs for the month of April:

	Units Purchased at Cost	Units Sold at Retail
Beginning inventory, April 1	1,200 units at $25
Purchase 1, April 9	1,500 units at $28
Sale 1, April 12		2,400 units at $45
Purchase 2, April 22	1,000 units at $30

If Morgan uses a periodic inventory system, what is the cost of goods sold under FIFO at April 30?

a. $32,800

b. $69,200

c. $38,400

d. $63,600