Use the following data of Starfish Sales, Inc.: Unit Total Units Units Cost Cost Sold Beginning inventory
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Question:
Use the following data of Starfish Sales, Inc.:
Unit | Total | Units | ||
Units | Cost | Cost | Sold | |
Beginning inventory | 18 | $5 | $90 | |
Purchase on Apr 25 | 37 | 8 | 296 | |
Purchase on Nov 16 | 20 | 9 | 180 | |
Sales | 45 | ? | ? |
Starfish Sales uses a FIFO inventory system. Cost of goods sold for the period is
A. $ 340
B. $ 390
C. $ 367
D. $ 450
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