Question $16(1$ point$)$

Chanel Supply uses the FIFO method of inventory valuation and maintains a perpetual inventory system. The following information relates to item $A,$ one of the items of merchandise carried by Chanel Supply.

Jan $1$ Units on hand is $6$ and unit cost is $$150.$

Jan $5$ Purchased $5$ units at a unit cost of $$165.$

Jan $12$ Purchased $4$ units at a unit cost of $$175.$

Jan $31$ Sold $8$ units.

The total cost of the $8$ units sold in January was:

$$1,360.$

$$1,200.$

$$1,195.$

$$1,230.$