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Given the following: Number purchased Cost per unit Total January 1 inventory 30 $ 5 $ 150 April 1 50 8 400 June 1
Given the following: Number purchased Cost per unit Total January 1 inventory 30 $ 5 $ 150 April 1 50 8 400 June 1 40 9 360 November 1 45 10 450 165 $ 1,360 a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 51 units). Cost of ending inventory b. Calculate the cost of goods sold using the FIFO (ending inventory shows 51 units). Cost of goods sold
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