Current Attempt in Progress

K-tel Industries had the following activity with one of its inventory items during the current period:

		Units	Unit Cost
Beginning inventory		30	$8.00
Purchase	December 5	80	10.50
Sale	December 11	(40)
Purchase	December 17	60	12.00
Sale	December 26	(70)

Using a perpetual inventory system and the FIFO cost formula, the cost of goods sold was

$975.

$1,080.

$1,175.

$1,300.

Attempts: 0 of 1 used