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During 2018, a company sells 320 units of inventory for $87 each. The company has the following inventory purchase transactions for 2018: Number of Unit
During 2018, a company sells 320 units of inventory for $87 each. The company has the following inventory purchase transactions for 2018: Number of Unit Transaction Date Jan. 1 May 5 Nov. 3 UnitsCost Total Cost Beginning inventory Purchase Purchase 64 169 184 $ 69 $ 4,416 11,830 13,248 70 72 417 $ 29,494 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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