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Find what cost of goods sold using the fifo inventory method

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Reference no: EM132719807

Problem 1: A company has beginning inventory of 300 units at $ 17.52 each; They purchased 400 units at $ 6.68 each on June 2; On June 15, they also purchased 200 units at $ 8.42 each. A physical count of merchandise inventory at the end of the month revealed that 500 units were sold. What is the cost of goods sold using the FIFO inventory method? Round your answer to the nearest dollar.

Reference no: EM132719807

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