Question - Fischer Inc. had the following inventory in fiscal 2013. The company uses the LIFO method of accounting for inventory.
Beginning Inventory, January 1, 2013: 130 units @ $10.00
Purchase 200 units @ $12.00
Purchase 50 units @ $9.00
Purchase 110 units @ $10.50
Ending Inventory, December 31, 2013: 120 units
Required - Calculate the company's cost of goods sold for fiscal 2013.