Question Help

Malcom, Inc. had the following balances and transactions during 2017:

Beginning Merchandise Inventory as of January 1, 2017

100

100 units at $ 80

$80

March 10

Sold 60

60 units

June 10

Purchased 250

250 units at $ 85

$85

October 30

Sold 160

160 units

What would be reported as Cost of Goods Sold on the income statement for the year ending December 31, 2017 if the perpetual inventory system and the first

out inventory costing method are used?