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Fifo inventory costing method

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Reference no: EM13516795

Deadwood Trading began March with 15 horses that cost a total of $1,500. During March, Deadwood Trading purchased and sold horses as follows:

3-Mar Purchased 12 $105

15-Mar Sold 18 $135

19-Mar Purchased 12 $55

30-Mar Sold 16 $135

A. Under the FIFO inventory costing Method and the perpetual inventory system, how much is Deadwood Trading's cost of goods sold for the sale on March 15?

Reference no: EM13516795

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