g Company uses the perpetual inventory method. Vargas purchased 800 units of inventory that cost $9.00 each. At a later date the company purchased an additional 1,200 units of inventory that cost $10.00 each. Vargas sold 900 units of inventory for $13.00. If Vargas uses a FIFO cost flow method, the amount of cost of goods sold appearing on the income statement will be:

$8,200

Explanation:

FIFO means first in, first out. It means that it is the first purchased inventory that is the first to be sold.

So the cost of goods sold =

800 x $9 = $7200

100 × $10 = $1000

Total cost of goods sold = $7200+$1000 = $8,200

I hope my answer helps you

due to the changes the federal reserve is making the unused reserves will impact the economy by them facing inflation. inflation is definfed as the increase in pricing of a good or service but the decline of the value of money used for purchasing those items. when the economy has a high inflation rate, they are subject to money loss and hurt on the economy.