0 ezto.mheducation.com . 4-6) - 2120 Fall 2020 08/24-12/16 ACC_2301 ... M Connect C Solved: Shankar Company uses a perpetual system to r Ex 6-4 1 Saved Help Save & Exit Submit Check my work vale UILLUS LUST IULAL LUST Jan. 1 Beginning inventory 43 $ 35 $ 1, 505 Apr. 7 Purchase 123 37 4, 551 Jul. 16 Purchase 193 40 7, 720 Oct. 6 Purchase 103 41 4, 223 462 $17, 999 For the entire year, the company sells 412 units of inventory for $53 each. ed Exercise 6-4A Part 1 ok Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory nces Cost of # of units Cost per Goods Available # of units Cost per Cost of . unit Goods # of units Cost Ending unit for Sale Sold per unit Inventory Beginning Inventory $ 0 $ o $ 0 Purchases: Apr. 7 $ 0 Jul. 16 o o $ 0 Oct.6 o O $ 0 0 Total 0 $ O