Santa Fe Tile Company Had the Following Inventory Purchases and Sales

question 64

Multiple Choice

Santa Fe Tile Company had the following inventory purchases and sales during the month of May. The company uses the periodic inventory method. If Santa Fe uses FIFO costing, how much was the Cost of goods sold for the month?

• A)$1,400
• B)$1,520
• C)$1,380
• D)$1,850

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