Glasgow Enterprises started the period with 80 units in beginning inventory that cost $2.70 each. During the period, the company purchased Inventory items as follows. Glasgow sold 270 units after purchase 3 for $10.90 each.
Purchase
1
2.
3
Number of
Items
250
110
60
Cost
$ 3.20
3.30
3.70
If the company uses the FIFO cost flow method, Glasgow's cost of goods sold would be:
Multiple Choice
$999.
$729.
$824.
$915.