Multiple Choice
Given the following information, determine the cost of goods sold for December 31 using the FIFO perpetual inventory method. December 2: 5 units were purchased at $7 per unit.
December 9: 10 units were purchased at $9.40 per unit.
December 11: 12 units were sold at $35 per unit.
December 15: 20 units were purchased at $10.15 per unit.
December 22: 18 units were sold at $35 per unit.
A) $281.25
B) $332.10
C) $282.15
D) $290.70
E) $210.30
Correct Answer:
Verified
Correct Answer:
Verified
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