A Company Had Beginning Inventory of 10 Units at a Cost

question 214

Multiple Choice

A company had beginning inventory of 10 units at a cost of $20 each on March 1. On March 2, it purchased 10 units at $22 each. On March 6 it purchased 6 units at $25 each. On March 8, it sold 22 units for $54 each. Using the FIFO perpetual inventory method, what was the cost of the 22 units sold?

• A) $520
• B) $570
• C) $450
• D) $470
• E) $490

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