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Vital Company had the following inventory transactions during the month of December. Date Transaction # Units Cost/Unit 12/1 Beginning Inventory 17 $35 12/15 Purchase Inventory

Vital Company had the following inventory transactions during the month of December.

Date Transaction # Units Cost/Unit

12/1 Beginning Inventory 17 $35

12/15 Purchase Inventory 28 $36

12/24 Sale at $64 per unit 22 ?

Assuming that Vital Company uses a FIFO inventory costing system, what is cost of goods sold for the December 24th sale?

Multiple Choice

$775

$828

$811

$792

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