The following are data available for Blue Grass for the month of June:
Sales 1,200 units
Beginning inventory 300 units @ $4.00
600 units @ $4.20
400 units @ $ 4.40
500 units @ $4.50
The cost of goods sold under FIFO cost flow assumptions for Blue Grass was:
A. 5,004
B. 5,270
C. 5,040
D. 2,690
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