Glasgow Enterprises started the period with 80 units in beginning inventory that cost $7.50 each. During the period, the company purchased inventory items as follows: Glasgow sold 220 units after purchase 3 for $17.00 each.
What is Glasgow's cost of goods sold under FIFO?

Question

Glasgow Enterprises started the period with 80 units in beginning inventory that cost $7.50 each. During the period, the company purchased inventory items as follows:  Glasgow sold 220 units after purchase 3 for $17.00 each.
What is Glasgow's cost of goods sold under FIFO?

Quizplus · Accepted Answer

The Answer of Glasgow Enterprises started the period with 80 units in beginning inventory that cost $7.50 each. During the period, the company purchased inventory items as follows:  Glasgow sold 220 units after purchase 3 for $17.00 each.
What is Glasgow's cost of goods sold under FIFO?

Glasgow Enterprises Started the Period with 80 Units in Beginning