Glasgow Enterprises started the period with 60 units in beginning inventory that cost $1.90 each....
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Glasgow Enterprises started the period with 60 units in beginning inventory that cost $1.90 each. During the period, the company purchased inventory items as follows. Glasgow sold 250 units after purchase 3 for $10.10 each.
| Purchase | No. of Items | Cost | ||||
| 1 | 230 | $ | 2.40 | |||
| 2 | 150 | $ | 2.50 | |||
| 3 | 50 | $ | 2.90 | |||
Glasgow's cost of goods sold under FIFO would be:
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