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Bramble Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations: Date Explanation Units Unit Cost
Bramble Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations: Date Explanation Units Unit Cost Total Cost Balance in Units Aug. 2 Purchases 260 $72 $18,720 260 3 Purchases 508 98 49,784 768 10 Sales (313) 455 15 Purchases 882 117 103,194 1,337 25 Sales (319) 1,018 Calculate the cost of goods sold and ending inventory using the FIFO cost method. Cost of goods sold $ 55176 Ending inventory $ 116522 Calculate the cost of goods sold and ending inventory using the average cost method. (Round average cost per unit and final answers to 2 decimal places, e.g. 1.25.) Cost of goods sold $ 65765.54 Ending inventory $ 10692.46
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