The Farley Corporation starts the year with a beginning inventory of 4,300 units at $6...
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Accounting
The Farley Corporation starts the year with a beginning inventory of 4,300 units at $6 per unit. The company purchases 6,300 units at $5 each in February and 3,300 units at $7 each in March. Farley sells 1,600 units during this quarter. Farley has a perpetual inventory system and uses the FIFO inventory costing method. What is the cost of goods sold for the quarter? $8,000 $11,200 $9,600 $10,400
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