What is the cost of goods sold for the july sale

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Reference no: EM132113338

Question - Lionworks Enterprises had the following inventory data:

Date


Quantity

Unit cost

July 1

Beginning inventory

5

$52

July 4

Purchase

10

$55

July 7

Sale

12


July 11

Purchase

9

$58

July 14

Sale

8


Assuming FIFO and a perpetual inventory system, what is the cost of goods sold for the July 7 sale?

$648

$645

$624

$654

Reference no: EM132113338

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