Linh Do's Supermarket uses a perpetual inventory system and had the following inventory transactions for...
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Accounting
Linh Do's Supermarket uses a perpetual inventory system and had the following inventory transactions for the month of June.
| 1 | June | On hand, 50 units at $18.00 each | $900.00 | |
| 4 | Purchased 115 units at $18.20 each | 2 093.00 | ||
| 5 | Sold 100 units | |||
| 10 | Purchased 75 units at $18.25 each | 1 368.75 | ||
| 24 | Sold 40 units | |||
| Total cost of goods available for sale | $4 361.75 | |||
| 30 | On hand, 100 units |
If the company uses the FIFO inventory costing method, cost of goods sold for the month of June is:
a. $2 538.00
b. $2 520.00
c. $2 540.00
d. $2 550.00
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