Lauer Corporation Uses the Periodic Inventory System and Has Provided

Multiple Choice

Lauer Corporation uses the periodic inventory system and has provided the following information about one of their laptop computers:

$$\begin{array}{ll}\begin{array} { ll } \text { Date } & \text { Transaction } \\1 / 1 & \text { Beginning Inventory } \\5 / 5 & \text { Purchase } \\8 / 10 & \text { Purchase } \\10 / 15 & \text { Purchase }\end{array}\begin{array} { l l} \text { Number of Units } & \text { Cost per Unit } \\100& \$ 800 \\200 & \$ 900 \\300 & \$ 1,000 \\200 & \$ 1,050\end{array}\end{array}$$
During the year,750 laptop computers were sold. What was cost of goods sold using the FIFO cost flow assumption?

A) $717,500
B) $730,000
C) $703,125
D) $725,500