Use This Information to Answer the Following Question A Periodic Inventory System Is Used

question 43

Multiple Choice

Use this information to answer the following question. $\begin{array}{llll}\text { Jan. } & 1 & \text { Inventory } &15 \text { units @ } \$4.00 \\& 8 & \text { Purchase } & 60 \text { units } @ \$ 4.40\\&17 & \text { Purchase } & 30 \text { units } @ \$ 4.20 \\&25 & \text { Purchase } & 45 \text { units @ } \$ 8.40 \\&&\text { Total sales }& 100 \text { units }\end{array}$

A periodic inventory system is used.
Cost of goods sold under FIFO is

• A) $429.
• B) $426.
• C) $452.
• D) $237.

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