Question: FIFO method 16 units left in inventory Jan. 1 Beginning Inv. 9 units at $105 = $945 Apr. 13 Purchased 14 units at $120 =

FIFO method 16 units left in inventory Jan. 1 Beginning Inv. 9 units at $105 = $945 Apr. 13 Purchased 14 units at $120 = $1,680 Sep. 17 Purchased 20 units at $130 = $2,600 Dec. 10 Purchased 14 units at $140 = $1,960

The cost of goods sold is:

	a.	$5,000
	b.	$10,000
	c.	$4,965
	d.	$5,225
	e.	None of these

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