Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 100 units at $60 per unit. During the year, Cortez made two batch purchases of this chair. The first was a 150-unit purchase at $68 per unit; the second was a 200-unit purchase at $72 per unit. During the period, it sold 270 chairs.

1 2 3 100 150 200 $60 $68 $72 270 Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 100 units at $60 per unit. During the year, Cortez made two batch purchases of this chair. The first was a 150-unit purchase at $68 per unit; the 4 second was a 200-unit purchase at $72 per unit. During the period, it sold 270 chairs. S 6 Required 7 a1. Determine the amount of product costs that would be allocated to cost of goods sold, assuming that Cortez uses FIFO. 9 (Use the cells from the given information to complete this question) 8 10 Cost of Goods 11 FIFO Units Unit Cost Sold 12 From beginning inventory 100 $60 $6,000 13 from first purchase 150 $68 $10,200 14 From second purchase 20 $72 0 $1,4400 15 Total 270 $17,640 16 17 12 Determine the amount of product costs that would be allocated to ending inventory, assuming that Cortez uses FIFO. 18 19 (Use the cells from the given information to complete this question.) 20 Ending 21 FIFO Units Unit Cost Inventory 22 From beginning inventory 23