Accounting MCQ Accounting Dunbar sold 700 units of inventory during the month. Cost of goods sold assuming FIFO would be:

Dunbar sold 700 units of inventory during the month. Cost of goods sold assuming FIFO would be:

Naim 12:31 Accounting

Inventory records for Dunbar Incorporated revealed the following:

Date Transaction Number of Units Unit Cost

Apr. 1 Beginning Inventory 500 $ 2.40

Apr. 20 Purchase 400 2.50

Dunbar sold 700 units of inventory during the month. Cost of goods sold assuming FIFO would be:

A) $1,730.

B) $1,700.

C) $1,720.

D) $1,710.

Answer: B

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