Question
Inventory data for Simmons Logistics Company for January 2021 are as flollow: January 1 Balance : Unit 80 * $18 = total Cost $1440 January
Inventory data for Simmons Logistics Company for January 2021 are as flollow:
January 1 Balance : Unit 80 * $18 = total Cost $1440
January 10 Purchase : Unit 90 * $19 = Total cost $1,710
January 11 Purchase : Unit 40 * $20 = Total cost $800
Available : 210
January Sales : 100 Unit
Using the Pperiodic FIFO method, compute ending inventory as of January 31, 2021, and determine cost of goods sold for January. Enter the amounts in the spaces provided below. Show all of your work. Unsupported answers will not be graded.
FIFO Cost of Goods Sold $____________________
FIFO Ending Inventory $___________________________________
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