What is the amount of cost of goods sold

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Reference no: EM133432583

Vargas Company uses the perpetual inventory system and the FIFO cost flow method. During the current year, Vargas purchased 1,400 units of inventory that cost $15 each. At a later dateduring the year, the company purchased an additional 1,800 units of inventory that cost $16 each. Vargas sold 1,500 units of inventory for $19. What is the amount of cost of goods sold that will appear on the current year's income statement?

Reference no: EM133432583

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