Given the Following Data, What Is Cost of Goods Sold

question 47

Multiple Choice

Given the following data, what is cost of goods sold as determined under the FIFO method?
$\begin{array} { l } \text { \text { Sales revenue }}& 350 \text { units at } \$ 35\\ \text {per unit Beginning inventory }&120\text { units } \\ \text {at \( \$ 15 \) per unit Purchases }&400 \\ \text { units at \( \$ 20 \) per unit }& \\\end{array}$

• A) $6,400
• B) $7,000
• C) $4,600
• D) $5,250

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