Malcom, Inc had the following balances and transactions dur

Malcom, Inc

had the following balances and transactions during 2017:

Beginning Merchandise Inventory as of January 1, 2017 150 units at $81
March 10 Sold 60 units
June 10 Purchased 270 units at $85
October 30 Sold 210 units

What would be reported as Cost of Goods Sold on the income statement for the year ending December 31, 2017 if the perpetual inventory system and the first-in, first-out inventory costing method are used?
A) $12,150
B) $17,490
C) $35,100
D) $22,350

ANSWER

D .