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Given the following: Number purchased Cost per unit Total January 1 inventory 51 $ 3 $ 153 April 1 71 6 426 June 1
Given the following: Number purchased Cost per unit Total January 1 inventory 51 $ 3 $ 153 April 1 71 6 426 June 1 61 7 427 November 1 66 8 528 249 $ 1,534 a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 72 units). Cost of ending inventory b. Calculate the cost of goods sold using the FIFO (ending inventory shows 72 units). Cost of goods sold
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