Reatta String World Music Center carries a large inventory of guitars, keyboards, and other musical instruments. Because each item is expensive, Reatta uses a perpetual inventory system. Company records indicate the following for a particular line of Casio keyboards:

Compute ending inventory and cost of goods sold for keyboards by the FIFO method. Also show the computation of cost of goods sold.

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Date Item Quantity Unit Cost May 1 Balance 5 $90 6 Sale 3 8 Purchase 11 95 17 Sale 4 30 Sale 3