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Niles Co. has the following data related to an item of inventory: Inventory, March 1...

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Accounting

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Niles Co. has the following data related to an item of inventory: Inventory, March 1 100 units $4.20 Purchase, March 7 350 units @ $4.40 Purchase, March 16 70 units @$4.50 Inventory, March 31 130 units The value assigned to cost of goods sold if Niles uses FIFO is A) $579 B) $1,723 C) $552 0 D) $1,696

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