Days Inn uses a perpetual inventory system. On November 1, the company had 80 units in opening inventory costing $10 each. The following buying and selling activity occurred for the month of November:

November 4: Purchased 120 units costing $11 each

November 9: Sold 135 units

November 16: Purchased 130 units costing $14 each

November 27: Sold 100 units

The selling price per unit is $15. Round all answers to 2 decimal places.

REQUIRED:

Complete the worksheet using the FIFO inventory costing method.

Use the FIFO inventory worksheet that you completed for Days Inn in the previous question to determine the following:

November Sales

November Cost of Goods Sold

November Gross Profit