Sheffield Shutters has the following inventory information.


Sheffield Shutters has the following inventory information

Nov. 1- Inventory 4..s@$7.00

Nov. 8-Purchase 1..s@8.40

Nov. 17-Purchase 6..s@8.20

Nov. 25-Purchase 9..s@9.10

A physical count of merchandise inventory on November 30 reveals that there are 40 units on hand. Assume a periodic inventory system is used. Assuming the specific identification method is used and that the ending inventory consists of 10 units from each of the three purchases and 10 units from Nov. 1 inventory, cost of goods sold is 

  1. $2162
  2. $2280
  3. $2222
  4. $2272

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