Stokes Corp. (SC) is a retailer of office equipment. The company uses a periodic inventory system and on October 1 had 2,000 units

of inventory with a total cost of $60,000. Oct 10, SC purchased 1,000 units for $32,000. Oct 15, SC sold 2,600 units at $40 per unit.

What is the cost of goods sold for Oct 15 sales if SC is using FIFO?

2 Points Stokes Corp. (SC) is a retailer of office equipment. The company uses a periodic inventory system and on October 1 had 2,000 units of inventory with a total cost of $60,000. Oct 10, SC purchased 1,000 units for $32,000. Oct 15, SC sold 2,600 units at $40 per unit. What is the cost of goods sold for Oct 15 sales if SC is using FIFO? A) 79,200 B 19,200 C) 60,000 104,000