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A company's inventory records indicate the following data for the month of April: April 1 beginning 350 units at $18 each April 5 purchase 290

  1. A company's inventory records indicate the following data for the month of April:

April 1

beginning

350 units at $18 each

April 5

purchase

290 units at $20 each

April 9

sale

500 units at $55 each

April 14

purchase

250 units at $22 each

April 20

sale

200 units at $55 each

April 30

purchase

240 units at $25 each

A. If the company uses the first-in, first-out (FIFO) method and the perpetual inventory system, what would be the cost of the ending inventory reported on the Balance Sheet and the Cost of Goods Sold reported on the Income Statement?

Date

Inventory

CGS

MI ____________________

CGS___________________

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