FINANCIAL ACCOUNTING I

ASSIGNMENT V

Name: _________________________________ Due: ___________

Marks _______ /10

The Snowboarding Company provided the following information for one of its top-selling snowboards:

Date Item Units Amount Sale

Nov. 1 Beginning inventory 26 $197

5 Sale (12) $340

12 Purchase 65 210

16 Sale (50) $355

19 Purchase 38 215

22 Sale (62) $370

26 Purchase 40 216

Calculate the cost of goods sold and ending inventory using FIFO.