Question - Matty's Sporting Goods had the following inventory records for the month of January.
Beginning inventory 70 units @ $100 per unit
Sales, Jan. 1 - Jan. 10 50 units
Purchase, Jan. 11 40 units @ $103 per unit
Sales, Jan. 12 - Jan. 20 50 units
Purchase, Jan. 21 50 units @ $105 per unit
Sales, Jan. 22-31 40 units
Assuming the first in first out (FIFO) method is used, what is Matty's total Cost of Goods Sold for the month of January?
A. $14,280
B. $14,270
C. $14,320
D. $14,300