ABC Corporation has the following inventory information for March, 2019: ...
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Accounting
ABC Corporation has the following inventory information for March, 2019:
Units
$Unit cost
$ Total Cost
Beg. Inv.
2,500
10.50
26,250
Purchase 1
3,200
10.75
34,400
Purchase 2
2,700
11.00
29,700
Purchase 3
2,000
11.25
22,500
Total
10,400
112,850
On March 31, ABC has 2,800 units in ending inventory. Using the periodic FIFO (first-in, first-out) method, what is cost of goods sold (COGS) for March?
a.
$83,450
b.
$83,375
c.
$81,350
d.
$81,550
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