On June 1,beginning Inventory Consists of Ten Items That Cost

question 23

Multiple Choice

On June 1,beginning inventory consists of ten items that cost $100 each.On June 8,ten more items are purchased at $120 each.On June 12,fifteen items are sold for $200 each.On June 28,ten items are purchased at $130 each.Using perpetual FIFO,cost of goods sold for the month ended June 30 equals ________.

• A)$1,500
• B)$1,600
• C)$1,800
• D)$3,000