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During July, the following purchases and sales were made by Waterway Company. There was no beginning inventory. Waterway Company uses a perpetual inventory system. Purchases

During July, the following purchases and sales were made by Waterway Company. There was no beginning inventory. Waterway Company uses a perpetual inventory system.
Purchases
Sales
July 3,50 units @ $10 July 13,78 units
1150 units @ $1122 units
2020 units @ $12
Under the FIFO method, the cost of goods sold for each sale is:
July 13 July 22
$808,$220
$798,$200
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