Manatee uses a FIFO inventory system. Cost of goods sold for the period is:
a. $330
b. $347
c. $355
d. $365
|
Units |
Unit Cost |
Total Cost |
Units Sold |
|
|
Beginning inventory |
20 |
$6 |
$120 |
|
|
Purchase on May 23 |
30 |
7 |
210 |
|
|
Purchase on Nov.5 |
15 |
? |
120 |
|
|
Sales |
50 |
8 |
? |