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Crane Company uses a periodic inventory system. For October, when the company sold 1,690 units, the following information is available. Units Unit Cost Total Cost
Crane Company uses a periodic inventory system. For October, when the company sold 1,690 units, the following information is available.
Units | Unit Cost | Total Cost | ||||
---|---|---|---|---|---|---|
October 1 inventory | 580 | $22 | $12,760 | |||
October 8 purchase | 1,160 | 23 | 26,680 | |||
October 25 purchase | 580 | 26 | 15,080 | |||
2,320 | $54,520 |
Compute the October 31 inventory and the October cost of goods sold using the FIFO method.
Ending inventory | $enter the ending inventory in dollars | |
---|---|---|
Cost of goods sold | $enter the cost of goods sold in dollars |
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