Box Office Projectors began the month of August with three movie projectors in inventory, each unit costing $ 350. During August, eight additional projectors of the same model were purchased.

Assume Box Office uses a periodic 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.

b. Determine the cost of inventory that will appear on the balance sheet at the end of August. (Enter O's for any layers where there were no units sold.) Unitsx Cost per Unit Total Cost Units from beginning inventory Units from August 11 purchase Units from August 14 purchase Units from August 26 purchase Cost of Inventory FIFO method Enter any number in the edit fields and then continue to the next