Question: Picasso's Paints had the following inventory data: Date Quantity Unit Cost July 1 Beginning inventory 5 $52 July 4 Purchase 10 $58 July 7

Picasso's Paints had the following inventory data: Date Quantity Unit Cost July

Picasso's Paints had the following inventory data: Date Quantity Unit Cost July 1 Beginning inventory 5 $52 July 4 Purchase 10 $58 July 7 Sale 12 July 11 Purchase 9 $61 July 14 Sale 8 Assuming FIFO, what is the cost of goods sold for the July 7 sale? A. $624 OB. $666 C. $672 OD. $684

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