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18 Part 2 of 4 5 points Required information [The following information applies to the questions displayed below.) Sylvester has a bird shop that sells
18 Part 2 of 4 5 points Required information [The following information applies to the questions displayed below.) Sylvester has a bird shop that sells canaries. Sylvester maintains accurate records on the number of birds purchased from its suppliers and the number sold to customers. The records show the following purchases and sales during 2021. Cost per Total Date Transactions Unita Unit Cost January 1 Teginning inventory 37 $ 28 $1,036 April 14 Purchase 68 30 2,040 August 22 Purchase 118 32 3,776 October 29 Purchase 83 2.822 306 $9,674 Jan. 1-Dee. 31 Ba len (340 ach) eBook 34 Print 272 References Sylvester uses a periodic inventory system and believes there are 34 birds remaining in ending inventory. However, Sylvester neglects to make a final inventory count at the end of the year. An employee accidentally left one of the cages open one night and 10 birds flew away, leaving only 24 birds in ending inventory. Sylvester is not aware of the lost canaries 2. What amount would Sylvester calculate for ending inventory and cost of goods sold using FIFO if he knew that only 24 canaries remain in ending Inventory? Ending inventory Cost of goods sold ME Graw
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