If Milby sells two hats during the year and uses the FIFO method, what would cost of goods sold be for the year?/2022

. Milby Corporation purchased three hats to sell during the year. 

The first, purchased in February, cost $5. 

The second, purchased in April, cost $6.

 The third, purchased in July, cost $8. If Milby sells two hats during the year and uses the FIFO method, what would cost of goods sold be for the year?

 1. $13 2. $19 3. $14 4. $11