A company has beginning inventory of 11 units at a cost of $29 each on February 1. On February 3, it purchases 39 units at $31 each. 17 units are sold on February 5. Using the FIFO periodic inventory method, what is the cost of the 17 units that are sold?
A. $493
B. $522
C. $509
D. $505
E. $532
Answer: D
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