On December 31 of last year, Wolfson Corporation had in inventory 540 units of its product,...

 

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On December 31 of last year, Wolfson Corporation had in inventory 540 units of its product, which cost $21 per unit to produce. During January, the company produced 940 units at a cost of $24 per unit. Assuming that Wolfson Corporation sold 980 units in January, what was the cost of goods sold? (Assume FIFO inventory accounting.) Cost of goods sold On December 31 of last year, Wolfson Corporation had in inventory 540 units of its product, which cost $21 per unit to produce. During January, the company produced 940 units at a cost of $24 per unit. Assuming that Wolfson Corporation sold 980 units in January, what was the cost of goods sold? (Assume FIFO inventory accounting.) Cost of goods sold