A Company Purchased 130 Units for $30 Each on January

Multiple Choice

A company purchased 130 units for $30 each on January 31.It purchased 150 units for $35 each on February 28.It sold 150 units for $80 each from March 1 through December 31.If the company uses the first-in,first-out inventory costing method,what is the amount of Cost of Goods Sold on the income statement for the year ending December 31? (Assume that the company uses a perpetual inventory system.)

A) $3,900
B) $5,250
C) $4,600
D) $9,150