The following information pertains to Fan Company inventory item B1008:

March	1	inventory balance	200	units	@	ps	3.10
	5	Purchase	1,400	units	@	ps	3.20
	14	Purchase	480	units	@	ps	3.25
	31	inventory balance	520	units

In a periodic inventory system, the FIFO cost of goods sold is

Answer rating: 100% (QA)

To calculate the cost of goods sold COGS using the FIFO FirstInFirstOut meth... View the full answer