Question 1 of 30
A manufacturing company uses the FIFO (First-In, First-Out) inventory valuation method. At the beginning of the month, the company had 100 units of product A in stock, purchased at $10 each. During the month, the company made the following purchases: 50 units at $12 each and 75 units at $14 each. At the end of the month, the company sold 120 units of product A. What is the cost of goods sold (COGS) for the month using the FIFO method?
$1,260
$1,320
$1,400
$1,500

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