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How do you calculate the cost of ending inventory and the cost of goods sold given the following: Date Units Produced Cost per unit Ending
How do you calculate the cost of ending inventory and the cost of goods sold given the following:
Date Units Produced Cost per unit Ending Inventory
March1 15 Xbox's 360 $275 2 Xbox's from March
April 1 45 Xbox's 360 250 15 Xbox's from April
May 1 60 Xbox's 360 240 12 Xbox's from May
****For cost of ending Inventory I got $7,180 for my answer, and for Cost of goods sold I keep getting $22,595 and the book says the answer is $22,635. I do not know what I am doing wrong. Please show work for how you got the answer if you can. Thank you.
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