Baldwin, Inc What Would Be Reported as Cost of Goods Sold on \begin{array}

question 47

Multiple Choice

Baldwin, Inc. had the following balances and transactions during 2019: $$\begin{array} { | l | l | } \hline \text { Beginning Merchandise Inventory as of January 1,2019 } & 125 \text { units at } \$ 81 \\\hline \text { March } 10 & \text { Sold } 50 \text { units } \\\hline \text { June } 10 & \text { Purchased } 225 \text { units at } \$ 86 \\\hline \text { October } 30 & \text { Sold } 175 \text { units } \\\hline\end{array}$$ What would be reported as Cost of Goods Sold on the income statement for the year ending December 31, 2019 if the perpetual inventory system and the first-in, first-out inventory costing method are used?

• A) $10,125
• B) $14,675
• C) $29,475
• D) $18,725

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