Grays Company has inventory of 20 units at a cost of $8 each on August 1. On August 3, it purchased 30 units at $10 each. 22 units are sold on August 6. Using the FIFO perpetual inventory method, what amount will be reported as cost of goods sold for the 22 units that were sold?
A. $140.
B. $180.00.
C. $184.
D. $440.
E. $186.
Answer: B
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