Question 11

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Using the FIFO method and the list of inventory above, which of the following is the Cost of Goods Sold during January?

• $300.00
  

Purchased Units Unit Cost Total Cost October 50 $3.00 $150 November 150 $2.50 $375 December 75 $4.00 $300 Units Available 275 $825 for Sale Ending Inventory Units Sold in 75 January Units on Hand 200 Cost of Goods Sold