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What is gomez cost of goods sold recognized

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Reference no: EM133172712

Question - The following information is available for Gomez Inc.

Date

Item

Units

Unit Cost

Oct. 1

Beg. Bal.

40

$5.00

Oct. 5

Purchase

60

5.20

Oct. 15

Purchase

100

5.40

Oct. 25

Purchase

50

5.50

A physical inventory count shows 80 units in stock on October 31. Gomez maintains a periodic inventory system.

Gomez Inc. uses the FIFO inventory method to value month-end inventory and applies a periodic inventory system. What is Gomez's cost of goods sold recognized for the month of October?

A. $919

B. $408

C. $902

D. $890

E. $437

Reference no: EM133172712

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