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The inventory data for an item for November are: Nov. 1 Inventory 20 units at $20 4 Sale 10 units 10 Purchase 30 units at
The inventory data for an item for November are:
| Nov. 1 | Inventory | 20 units at $20 |
| 4 | Sale | 10 units |
| 10 | Purchase | 30 units at $22 |
| 17 | Sale | 20 units |
| 30 | Purchase | 10 units at $24 |
Using a perpetual system, what is the cost of merchandise sold for November if the company uses FIFO?
| a. | $600 | |
| b. | $580 | |
| c. | $610 | |
| d. | $620 |
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