Exercise 1. Cost of goods sold

Msica y Ms had an inventory of guitars and other musical instruments. Using the FIFO method and the perpetual inventory system, the company recorded initial inventory, purchases, and sales.

Determine the cost of merchandise sold and the value of the inventory.

Costo de unidad (uni Fecha Detalle Cantidad cost) Mayo 1 Inventario inicial 10 $9 6 Venta 6 8 Compra 14 9 13 Venta 4 30 Venta