On January 1,2014,a Company Had 100 Units of Inventory

Multiple Choice

On January 1,2014,a company had 100 units of inventory.A company acquired 100 units of inventory on January 31,2014 and 100 units on December 1,2014.The company sold 100 units on December 31,2014,which was the company's only sale.Under FIFO,the cost of goods sold would come from ________.

A) the purchase cost of beginning inventory
B) the purchase cost on January 31, 2014
C) the purchase cost on December 1, 2014
D) an average of the cost over the two purchase dates