ANSWERS IN FORMULA FORM

B F G Link A E H akma 1 Name: ading 2 Your score The K Company reported the following January purchases and sales data for its only product. The 3 company uses a perpetual inventory system. 4 REQUIRED: Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. Each 5 yellow cel must include a formula using cel references, EVEN IF THE FORMULA RESULT IS ZERO. 6 m00 00 Cost per Units purchased Total Cost Units Sold Selling Price Total Sales of Purchase unt per unit 9 400 $10 $4,000 320 $30 $9,600 600 12 Date Jan. 1 Beginning inventory Jan. 11 Sales Jan. 15 Purchase Jan, 17 Sales Jan. 21 Purchase Jan. 23 Sales Totals 7.200 480 $30 14,400 650 14 10 11 12 13 14 15 16 17 18 19 9,100 $30 590 1,390 17,700 $41,700 1,650 $20,300 Cost of Goods Sold - Perpetual FIFO: Units Sold Cost per Cost of Goods Sold unit 20 Calculate cost of goods sold for the January 11 sale of 320 units. 21 23 24 25 27 28 29 30 32 33 34 Total Cost of Goods Sold for January - 1,390 units Ending Inventory - Perpetual FIFO: @ Cost per Units in Ending Inventory Inventory Balance unit 35 36 37 38 39 40 41 Total Ending Inventory for January - 260 unts