Instructions - Complete the below chart for FIFO. Note: USE Excel for linking the numbers and use formulas in Excel for any calculations.
	Goods Purchased			Cost of Goods Sold			Balance in Inventory
Date	Units	Unit Cost	Total $	Units	Unit Cost	Total $	Units	Unit Cost	Total $
June. 1							100	$1
3	500	$4
8	500	$6
10
				200
15	400	$7
20
				500
27	400	$7
	Total COGS