Brutus Corporation, a Newly Formed Corporation, Has the Following Transactions

Multiple Choice

Brutus Corporation, a newly formed corporation, has the following transactions during May, its first month of operations.

-Using the table provided, calculate total sales, cost of goods sold, gross profit, and ending inventory using each of the FIFO perpetual inventory method.

A) Total sales: $56,975.00
Cost of goods sold: $36,431.25
Gross profit: $20,543.75
Ending inventory: $19,981.2
B) Total sales: $56,975.00
Cost of goods sold: $36,587.50
Gross profit: $20,387.50
Ending inventory: $19,825.00
C) Total sales: $56,975.00
Cost of goods sold: $37,312.50
Gross profit: $19,662.50
Ending inventory: $19,573.25
D) Total sales: $56,975.00
Cost of goods sold: $37,401.75
Gross profit: $19,573.25
Ending inventory: $19,010.75