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Bobs construction company had a beginning inventory of 15,000 units and purchased 19,000 units during the year. Sales for the year totalled 25,000 units at
Bobs construction company had a beginning inventory of 15,000 units and purchased 19,000 units during the year. Sales for the year totalled 25,000 units at $8 per unit. Based on the information below calculate cost of goods sold and ending inventory dollar values based on FIFO. Available for Sale Ending Inventory Beginning Inventory - October Beginning Inventory - November Beginning Inventory - December Purchases - April Purchases - June Totals Sales Ending Inventory Units Unit Price 4,000 $3.00 5,000 $3.10 6,000 $3.20 5,000 $2.80 14,000 $3.00 34,000 25,000 9,000 $ 0 $ $ $ Calculate Cost of Goods Sold and Ending inventory dollar values A. Cost of Goods Sold B. Ending Inventory Dollar Value
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