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Current Attempt in Progress Monty Outdoor Stores Inc. uses a perpetual inventory system and has a beginning inventory, as at April 1, of 155 tents.
Current Attempt in Progress Monty Outdoor Stores Inc. uses a perpetual inventory system and has a beginning inventory, as at April 1, of 155 tents. This consists of 51 tents purchased in February at a cost of $208 each and 104 tents purchased in March at a cost of $226 each. During April, the company had the following purchases and sales of tents: Purchases Units Unit Cost Units 76 Sales Unit Price $411 205 $274 Date Apr. 3 10 17 24 30 250 411 292 294 191 411 (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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