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Given the following: Number purchased Cost per unit $3 Total $ 126 62 372 January 1 inventory April 1 June 1 November 1 52 364
Given the following: Number purchased Cost per unit $3 Total $ 126 62 372 January 1 inventory April 1 June 1 November 1 52 364 456 $1,318 a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 63 units). Cost of ending inventory b. Calculate the cost of goods sold using the FIFO (ending inventory shows 63 units). Cost of goods sold
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