Strodse Company reported the following purchases and sales of its only product. Strods uses a perpetual inventory system. Determine the cost assigned to cost of goods sold using FIFO. Date Activities Units Acquired at Cost Units Sold at Retail May 1 Beginning Inventory 250 units @ $10 5 Purchase 270 units @ $12 10 Sales 190 units @ $20 15 Purchase 150 units @ $13 24 Sales 140 units @ $21 Multiple Choice: a) $3,590 b) $7,690 c) $3,460 d) $4,230 e) $4,100.
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