Josh Baskin Corp. opened for business in November 2020. During November, Baskin purchased 200 items...
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Josh Baskin Corp. opened for business in November 2020. During November, Baskin purchased 200 items of inventory for $2.00 each ($400 total cost). During December, Baskin purchased another 200 items for $3.00 each ($600 total cost). In late December, Baskin had its first and only sale of the quarter, 250 items for $5.00 each ($1,250 total revenue). What is Baskin's Cost of Goods Sold for the December sale of 250 items? Baskin uses the FIFO cost flow assumption. (just enter the number, without any commas or a dollar sign)
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