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The following information was collected from the inventory records of a company for the month of March 2010. During March the company sold 90 units
The following information was collected from the inventory records of a company for the month of March 2010. During March the company sold 90 units of its product at $25 per unit.
| Date | Units | Unit Cost | Total Cost |
Beginning inventory | March 1 | 15 | $10.00 | $150 |
Purchase | March 5 | 35 | $12.00 | $420 |
Purchase | March 10 | 70 | $14.00 | $980 |
Purchase | March 17 | 25 | $15.00 | $375 |
Determine cost of goods sold under FIFO for the month of March.
A) 1130
B)640
C)795
D)1285
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