Use the Following Data to Calculate Cost of Merchandise Sold

question 90

Multiple Choice

Use the following data to calculate cost of merchandise sold under FIFO method. $$\begin{array} { l l l } \text { September } 1 & \text { Beginning Inventory } & 15 \text { units at } \$ 20 \text { each } \\\text { September } 10 & \text { Purchase } & 20 \text { units at } \$ 25 \text { each } \\\text { September } 20 & \text { Purchase } & 25 \text { units at } \$ 28 \text { each } \\\text { September } 30 & \text { Ending Inventory } & 30 \text { units }\end{array}$$

• A) $825
• B) $750
• C) $675
• D) $600

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