Multiple Choice
A company had beginning inventory of 10 units at a cost of $20 each on March 1. On March 2, it purchased 10 units at $22 each. On March 6 it purchased 6 units at $25 each. On March 8, it sold 22 units for $54 each. Using the FIFO perpetual inventory method, what was the cost of the 22 units sold?
A) $520
B) $570
C) $450
D) $470
E) $490
Correct Answer:
Verified
Correct Answer:
Verified
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