Calculating FIFO Inventory Values The Mann Corporation began operations in 2011. Information relating to the company's purchases of inventory and sales of products for 2011 and 2012 is presented below 2011 January 1 Purchase 200 units$40 per unit April 1 July 1 September 1 Sold Sold 120 units$100 per unit Purchase 100 units56 per unit 130 units$100 per unit 2012 January 1 Purchase 100 units April 1 July 1 September 1 Sold $64 per unit Sold 80 units $120 per unit Purchase 100 units72 per unit 100 units $140 per unit Calculate the FIFO cost of goods sold and ending inventory for 2011 and 2012 assuming use of (a) the periodic method and (b) the perpetual method a. FIFO Periodic. Round to nearest whole number 2011 Cost of goods sold$ Ending inventory $ Calculating FIFO Inventory Values The Mann Corporation began operations in 2011. Information relating to the company's purchases of inventory and sales of products for 2011 and 2012 is presented below 2011 January 1 Purchase 200 units$40 per unit April 1 July 1 September 1 Sold Sold 120 units$100 per unit Purchase 100 units56 per unit 130 units$100 per unit 2012 January 1 Purchase 100 units April 1 July 1 September 1 Sold $64 per unit Sold 80 units $120 per unit Purchase 100 units72 per unit 100 units $140 per unit Calculate the FIFO cost of goods sold and ending inventory for 2011 and 2012 assuming use of (a) the periodic method and (b) the perpetual method a. FIFO Periodic. Round to nearest whole number 2011 Cost of goods sold$ Ending inventory $