At the end of January, Mineral Labs had an inventory of 945 units, which cost $11...

 

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At the end of January, Mineral Labs had an inventory of 945 units, which cost $11 per unit to produce. During February the company produced 1,750 units at a cost of $15 per unit. a. If the firm sold 2,550 units in February, what was the cost of goods sold? (Assume LIFO inventory accounting.) Cost of goods sold b. If the firm sold 2,550 units in February, what was the cost of goods sold? (Assume FIFO inventory accounting.) Cost of goods sold At the end of January, Mineral Labs had an inventory of 945 units, which cost $11 per unit to produce. During February the company produced 1,750 units at a cost of $15 per unit. a. If the firm sold 2,550 units in February, what was the cost of goods sold? (Assume LIFO inventory accounting.) Cost of goods sold b. If the firm sold 2,550 units in February, what was the cost of goods sold? (Assume FIFO inventory accounting.) Cost of goods sold