Summertime had the following data for the month of March: 

Beginning inventory March 1 276 units at $20 per unit March 19 purchase 204 units at $22 per unit March 27 purchase 208 units at $28 per unit On March 31, 290 units are still on hand. 

Determine the cost of goods sold for March if Summertime uses the FIFO method.

Answer rating: 100% (QA)

Using the FIFO method we assume that the first units purchased are the first ones s... View the full answer