Business, 01.03.2021 22:10 danielanderson12

Maxwell company uses the FIFO method to assign costs to inventory and cost of goods sold. The company uses a periodic inventory system. Consider the following information. Date Description # of units Cost per unitJanuary 1 Beginning inventory 230 $4June 2 Purchase 85 $3 November 5 Sales 255 What amounts would be reported as cost of goods sold and ending inventory balances for the year?A. Cost of goods sold $1, 020; Ending inventory $160.B. Cost of goods sold $1, 095; Ending inventory $210.C. Cost of goods sold $935; Ending inventory $240.D. Cost of goods sold $995; Ending inventory $180.

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