Chapter 6, Problem 3QC

Assume Nile.com began April with 14 units of inventory that cost a total of $266 .During April Nile.com purchased and sold goods as follows;

Learning Objective 2

Apr. 8	Purchase	42 units @ $ 20

14	Sale		35 units @ $ 40

22	Purchase	28 units @ $ 22

27	Sale		42 units @ $ 40
____________________________________

Under the FIF0 inventory costing method arid the perpetual inventory, how much is Nile.com cost of goods sold for the sale on April 14?
a $1,106
b $686
c $1,400
d. $700