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 400 units of inventory that cost $12.00 each and then purchased an additional 600 units of inventory that cost $16.00 each. If Anton sells 700 units of inventory, what is the amount of cost of goods sold?

A) $11,200
B) $10,400
C) $8,400
D) $9,600