Baldwin, Inc. had the following balances and transactions during 2026: Beginning Merchandise Inventory as of January 1, 2026 175 units at $81 March 10 Sold 80 units June 10 Purchased 200 units at $84 Sold 255 units October 30 What would be reported as Cost of Goods Sold on the income statement for the year ending December 31, 2026 if the perpetual inventory system and the first-in, first-out inventory costing method are used? OA. $21,135 B. $14,175 C. $30,975 OD. $27,615
Baldwin, Inc. had the following balances and transactions during 2026: Beginning Merchandise Inventory as of January 1, 2026 175 units at $81 March 10 Sold 80 units June 10 Purchased 200 units at $84 Sold 255 units October 30 What would be reported as Cost of Goods Sold on the income statement for the year ending December 31, 2026 if the perpetual inventory system and the first-in, first-out inventory costing method are used? OA. $21,135 B. $14,175 C. $30,975 OD. $27,615
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Transcribed Image Text:Baldwin, Inc. had the following balances and transactions during 2026:
Beginning Merchandise Inventory as of January 1, 2026
175 units at $81
Sold 80 units
March 10
June 10
Purchased 200 units at $84
Sold 255 units
October 30
What would be reported as Cost of Goods Sold on the income statement for the year ending December 31, 2026 if the
perpetual inventory system and the first - in, first-out inventory costing method are used?
OA. $21,135
B. $14,175
C. $30,975
O D. $27,615
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