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During 2018, a company sells 310 units of inventory for $86 each. The company has the following inventory purchase transactions for 2018: Date Jan. 1
During 2018, a company sells 310 units of inventory for $86 each. The company has the following inventory purchase transactions for 2018: Date Jan. 1 May 5 Nov. 3 Transaction Beginning inventory Purchase Purchase Number of Units 70 166 183 Unit Cost $ 69 70 72 Total Cost $ 4,830 11,620 13,176 419 $ 29,626 Calculate ending inventory and cost of goods sold for 2018 assuming the company uses FIFO with a periodic inventory system. Ending inventory Cost of goods sold
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