Question 12
5 pts
Shown below is the activity for one of the products of Random Creations:
January 1 balance, 80 units @ $50 each
Purchases:
January 18: 40 units @ $51 each
January 28: 40 units @ $52 each
Sales:
January 12: 30 units
January 22: 30 units
January 31: 45 units
Required: Compute the cost of goods sold for January, assuming Random Creations uses FIFO.
? $4,000
? $5,365
? $2,845
? $5,275