What was cost of goods sold using the fifo cost flow

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Lauer Corporation provided the following information about one of its laptop computers:

Date             Transaction                Number of Units              Cost per Unit

1/1                Beginning Inventory          210                        $910

5/5                     Purchase                   310                      $1,010

8/10                      Purchase                410                       $1,110

10/15                  Purchase                  255                           $1,160

Problem 1: During the year, Lauer sold 1,025 laptop computers. What was cost of goods sold using the FIFO cost flow assumption?

Reference no: EM133001785

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