Question: ABC Co. uses a perpetual inventory system and had the following inventory transactions for the month of June. June 1 On hand, 100 units

ABC Co. uses a perpetual inventory system and had the following inventory

ABC Co. uses a perpetual inventory system and had the following inventory transactions for the month of June. June 1 On hand, 100 units at $9.00 each June 4 Purchased 350 units at $9.20 each June 5 Sold 400 units June 10 Purchased 75 units at $10.75 each June 24 Sold 50 units If the company uses the FIFO inventory costing method, what is the dollar amount of cost of goods sold?

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