Question
The follow information relates to Green Companys inventory for February 2022. Green started the company in mid-January 2022, so the January 22 purchase was the
The follow information relates to Green Companys inventory for February 2022. Green started the company in mid-January 2022, so the January 22 purchase was the only inventory on hand.
January 22: Green purchased 100,000 units of inventory at $3 per unit. None of this inventory was sold during the month of January.
February 3: Purchased 250,000 units at $4 per unit
February 15: Purchased 300,000 units at $4.50 per unit
If Green sold 450,000 units during the month of February and uses the FIFO inventory cost assumption, what is their cost of goods sold?
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