Anton Company Uses the Perpetual Inventory System and FIFO Cost

Multiple Choice

Anton Company uses the perpetual inventory system and FIFO cost flow method. During the year, Anton purchased 1,080 units of inventory that cost $7 each and then purchased an additional 1,110 units of inventory that cost $9 each. If Anton sells 1,550 units of inventory, what is the amount of cost of goods sold?

A) $13,950
B) $11,790
C) $10,850
D) $14,260