On January 1, 2011 a company has 3,000 units @ $30/unit in beginning inventory. On January 3rd,
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Question:
On January 1, 2011 a company has 3,000 units @ $30/unit in beginning inventory. On January 3rd, the company bought 2,000 units at $40/unit. On January 4ththe company bought 1,000 more units at $33/unit. On January 10th, the company sells 4,000 units for $50 each.
Using the FIFO method of inventory costing, what is the Cost of Goods Sold?
Group of answer choices
$130,000
$143,000
$73,000
$60,000
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