Malcom, Inc. had the following balances and transactions during 2017: Beginning Merchandise…

Malcom, Inc. had the following balances and transactions during 2017:   Beginning Merchandise Inventory as of January 1, 2017 175 units at $82 March 10 Sold 70 units June 10 Purchased 225 units at $84 October 30 Sold 245 units   What would be reported as Cost of Goods Sold on the income statement for the year ending December 31, 2017 if the perpetual inventory system and the first-in, first-out inventory costing method are used?    

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