4. Kiwi Ltd., which uses a perpetual inventory system, recorded the following inventory transactions for this year :

Purchases Sales

Units Unit Cost Units Selling Price/Unit

Apr 1 Beginning inventory 90 $ 16

25 Purchase 300 18

May 4 Purchase 130 20

16 Sale 240 $32

Jun 4 Purchase 100 24

Instructions

show calculations Using the FIFO cost formula, calculate the cost of goods sold for the quarter ended June 30.