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Express Distribution markets CDs of the performing artist Fishe. At the beginning of October, Express had in beginning inventory 2,000 of Fishes CDs with a
Express Distribution markets CDs of the performing artist Fishe. At the beginning of October, Express had in beginning inventory 2,000 of Fishes CDs with a unit cost of $7. During October, Express made the following purchases of Fishes CDs.
Oct. 3 | 2,500 | @ | $8 | Oct. 19 | 3,000 | @ | $10 | |||
Oct. 9 | 3,500 | @ | $9 | Oct. 25 | 4,000 | @ | $11 |
During October, 10,900 units were sold. Express uses a periodic inventory system.
I need help figuring out how to use the FIFO method for cost of goods sold and the ending inventory.
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