A firm has beginning inventory of 400 units at a cost of $11 each.Production during the period was 650 units at $12 each.If sales were 700 units,what is the cost of goods sold (assume FIFO)?
A) $9,000
B) $8,000
C) $7,700
D) $8,100

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The Answer of A firm has beginning inventory of 400 units at a cost of $11 each.Production during the period was 650 units at $12 each.If sales were 700 units,what is the cost of goods sold (assume FIFO)?
A) $9,000
B) $8,000
C) $7,700
D) $8,100

A Firm Has Beginning Inventory of 400 Units at a Cost