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Cheyenne Outdoor Stores Inc. uses a perpetual inventory system and has a beginning inventory, as at April 1, of 148 tents. This consists of 50

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Cheyenne Outdoor Stores Inc. uses a perpetual inventory system and has a beginning inventory, as at April 1, of 148 tents. This consists of 50 tents purchased in February at a cost of $211 each and 98 tents purchased in March at a cost of $227 each. During April, the company had the following purchases and sales of tents: Purchases Units Unit Cost Date Apr. 3 10 Units 76 Sales Unit Price $418 196 $276 418 251 17 294 289 24 30 204 418 (a) Determine the cost of goods sold and the cost of the ending inventory using FIFO Cost of goods sold $ Cost of the ending inventory $

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