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Culver Outdoor Stores Inc, uses a perpetual inventory system and has a beginning inventory, as at April 1, of 147 tents. This consists of 49
Culver Outdoor Stores Inc, uses a perpetual inventory system and has a beginning inventory, as at April 1, of 147 tents. This consists of 49 tents at a cost of $211 each and 98 tents at a cost of $229 each. During April, the company had the following purchases and sales of tents: Purchases Units Unit Cost Date Apr. 3 10 Sales Units Unit Price 72 $380 193 $277 263 380 24 285 291 203 380 Determine the cost of goods sold and the cost of the ending inventory using FIFO. Cost of goods sold Cost of the ending inventory S
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