Bella Inc. purchased 10 items for $12,000 on January 10, 2015 on credit. It started the month with 5 items at a total cost of $5,000. After inspecting the inventory purchased on January 10 it determined that it was not satisfied with the quality of the items purchased. The supplier applied a 10% price reduction on the total purchase. What is the Cost of Goods sold if it sold 8 of the items on January 15 using the FIFO method?

 a. $8,240 

b. $8,427 

c. $8,600 

d. $7,740

Answer rating: 100% (QA)

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