ABC Company uses a periodic inventory system based on FIFO method. As at January 1st, 2020 the company had Rs.45,000 worth of inventory at per unit cost of Rs. 225. During the year the following transactions took place: During the month, the company sold 500 units. What is the cost of goods sold & the cost of closing inventory at the month end. *

ABC Company uses a periodic inventory system based on FIFO method. As at January 1st, 2020 the company had Rs.45,000 worth of inventory at per unit cost of Rs. 225. During the year the following transactions took place: During the month, the company sold 500 units. What is the cost of goods sold & the cost of closing inventory at the month end. * 5-Jan 8-Jan 15-Jan 18-Jan 25-Jan 29-Jan Purchased goods Puchased goods Returned goods Purchased goods Purchased goods Returned goods Units 100 200 40 50 150 Unit Price 250 275 250 300 380 300 Total 25000 55000 10000 15000 57000 7500 25 Your