Bridgeport Inc. uses a perpetual inventory system. Its records show the following for the month of May. Date May May May (a) 1 May 18 15 24 Explanation Inventory Purchase Sale Purchase Total Cost of goods sold Ending Inventory tA $ Units GA 29 26 (42) 40 95 Unit Cost $10 11 12 Total Cost Calculate the cost of goods sold for May and the ending inventory at May 31 using the FIFO formula. $290 286 480 $1,056

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Bridgeport Inc, uses a perpetual inventory system. Its records show the following for the month of May. (a) Calculate the cost of goods sold for May and the ending inventory at May 31 using the FIFO formula. Cost of goods sold Ending Inventory