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Sophia's Sugar Spot sells bags of candy. The following chart includes the purchases and sales for the company in March. Assuming Sophia's Sugar Spot uses

Sophia's Sugar Spot sells bags of candy. The following chart includes the purchases and sales for the company in March.

Assuming Sophia's Sugar Spot uses the FIFO method, what is the company's cost of goods sold amount for March?

Date

Activity

March 1

Beginning inventory of 8 bags at $10 a bag

March 2

Purchased 10 bags at $9 a bag for a total of $90

March 18

Purchased 14 bags at $9.50 a bag for a total of $133

March 20

Purchased 8 bags at $8 a bag for a total of $64

March 23

Sold 20 bags at $11 a bag

March 30

Sold 8 bags at $12 a bag

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