If vargas uses a fifo cost flow method the amount of cost


Vargas Company uses the perpetual inventory method. Vargas purchased 800 units of inventory that cost $9 each. At a later date the company purchased an additional 1,200 units of inventory that cost $10 each. Vargas sold 900 units of inventory for $13. If Vargas uses a FIFO cost flow method, the amount of cost of goods sold appearing on the income statement will be:

$3,500. $7,200. $2,700. $8,200.

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Accounting Basics: If vargas uses a fifo cost flow method the amount of cost
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