Use the Following Information for Questions Below

Multiple Choice

Use the following information for Questions below
The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of Newtown, Inc. for an operating period

-Assuming Newtown, Inc., uses FIFO perpetual inventory procedures, it records sale no. 2 as an entry to Cost of Goods Sold for:

A) $576
B) $596
C) $620
D) $632
E) None of the above