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Ashland Company has a perpetual inventory system and uses the FIFO method of inventory costing. Ashland had a beginning inventory of 50 units and reported the following events during the month of June:

-The cost of goods sold for the June 21 sale is:
A)$480
B)$400
C)$440
D)$560

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Use the following to answer questions 
Ashland Company has a perpetual inventory system and uses the FIFO method of inventory costing. Ashland had a beginning inventory of 50 units and reported the following events during the month of June:
 
-The cost of goods sold for the June 21 sale is:
A)$480 
B)$400 
C)$440 
D)$560

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The Answer of Use the following to answer questions 
Ashland Company has a perpetual inventory system and uses the FIFO method of inventory costing. Ashland had a beginning inventory of 50 units and reported the following events during the month of June:
 
-The cost of goods sold for the June 21 sale is:
A)$480 
B)$400 
C)$440 
D)$560

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