Babeu Projectors began the month of August with two movie projectors in inventory, each unit costing $345.

During August, six additional projectors of the same model were purchased. Assume Babeu uses a perpetual record-keeping system and the FIFO cost flow method.

1) Calculate the cost of goods sold that will appear on the income statement for the month of August.

2) Determine the cost of inventory that will appear on the balance sheet at the end of August.

a. Calculate the cost of goods sold that will appear on the income statement for the month of August. (Enter O's for any layers where there were no units sold.) Units X Cost per Unit = Total Cost A More Info Units from beginning inventory Units from August 11 purchase Units from August 14 purchase Units from August 26 purchase Cost of Goods Sold - FIFO method August 11 August 13 August 14 August 18 August 21 August 26 Purchased four units at $330 each Sold three units at $490 each Purchased one unit at $370 Sold three units at $490 each Sold one unit at $490 each Purchased one unit at $345 Print Done