Zimt AG started business in 2007 and uses the FIFO inventory method. During 2007 it purchased...

Zimt AG started business in 2007 and uses the FIFO inventory method. During 2007 it purchased 45,000 units of inventory at €10 each and sold 40,000 units for €20 each. In 2008 it purchased another 50,000 units at €11 each and sold 45,000 units for €22 each. Its 2008 COGS (in € thousands) is closest to

A. €440

B. €450

C. €490

D. €495

Expert Solution

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Zimt AG started business in 2007 and uses the FIFO inventory method. During 2007 it purchased...

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