PLEASE ANSWER ASAP****

Addison, Inc. uses a perpetual inventory system. Below is information about one inventory item for the month of September.

Sep. 1		Inventory	20 units at $20
4		Sold	10 units
10		Purchased	30 units at $25
17		Sold	20 units
30		Purchased	10 units at $30

If Addison uses FIFO, the September 17 entry for cost of goods sold would be:

a.

Inventory	450
Cost of Goods Sold		450

b.

Sales	450
Cost of Goods Sold		450

c.

Cost of Goods Sold	450
Sales		450

d.

Cost of Goods Sold	450
Inventory		450