Calculate the cost of goods sold and the cost of the ending inventory using the FIFO periodic cost flow assumption.

Sales	103units at $15 per unit
Beginning inventory	88units at $7per unit
Purchases	58units at$6per unit

Calculate the cost of goods sold. (Enter 0's for any layers where there were no units sold.)

	Units	x	Cost per Unit	=	Total Cost
Units from beginning inventory		x		=
Units from purchase		x		=
Cost of Goods Sold- FIFO method

Calculate the cost of ending inventory. (Enter 0's for any layers where there were no units sold.)

	Units	x	Cost per Unit	=	Total Cost
Units from beginning inventory		x		=
Units from purchase		x		=
Ending Inventory - FIFO method