Sam Inc. had the following inventory in fiscal 2016. The company uses the FIFO method of accounting for inventory. Beginning Inventory, January 1, 2016: 130 units @ $15.00 Purchase 200 units @ $18.00 Purchase 50 units @ $13.50 Purchase 110 units @ $15.75 Ending Inventory, December 31, 2016: 120 units The company’s cost of goods sold for fiscal 2016 is: 

A) $6,090.00 

B) $6,045.00 

C) $6,157.50 

D) $5,305.75 

E) None of the above

Answer rating: 100% (QA)

The detailed answer for the above quest... View the full answer