Glasgow Enterprises started the period with 80 units in beginning inventory that cost $1.90 each. During the period, the company purchased inventory items as follows: Glasgow sold 265 units after purchase 3 for $7.80 each.
What is Glasgow's cost of goods sold under FIFO?
A)$596
B)$504
C)$769
D)$687

Question

Glasgow Enterprises started the period with 80 units in beginning inventory that cost $1.90 each. During the period, the company purchased inventory items as follows:  Glasgow sold 265 units after purchase 3 for $7.80 each.
What is Glasgow's cost of goods sold under FIFO?
A)$596 
B)$504 
C)$769 
D)$687

Quizplus · Accepted Answer

The Answer of Glasgow Enterprises started the period with 80 units in beginning inventory that cost $1.90 each. During the period, the company purchased inventory items as follows:  Glasgow sold 265 units after purchase 3 for $7.80 each.
What is Glasgow's cost of goods sold under FIFO?
A)$596 
B)$504 
C)$769 
D)$687

Glasgow Enterprises Started the Period with 80 Units in Beginning