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16. A business reports the following (they use a perpetual inventory system and the First In...

16. A business reports the following (they use a perpetual inventory system and the First In First Out Method): Inventory consists of 20 units at a cost of $20 per unit on 6/1/17 On 6/5/17 sold 10 units for $40 per unit On 6/7/17 purchased 20 units at a price of $22 per unit On 6/10/17 sold 15 units for $40 per unit On 6/15/17 purchased 20 units at a price of $23 per unit On 6/20/17 sold 10 units for $40 per unit Calculate the cost of goods sold on 6/10/17 ________________

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