Inventory

Dec. $1310$ units at $$88$

Purchases

Dec. $10144$ units at $$90$

$20240$ units at $$96$

Sales

Dec. $12240$ units

$14166$ units

$31200$ units

units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of Goods Sold Unit Cost column and in the Inventory Unit Cost column.

FIFO Method

Prepaid Cell Phones

Cost of Cost of Cost of

Purchases Purchases Purchases Goods Sold Goods Sold Goods Sold Inventory Inventory Inventory

Date

Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost

Dec. $1$

Dec. $10$

$12,960$

$12,960$

Dec. $12$

Dec. $14$

Dec. $20$

Dec. $31$

Dec. $31$ Balances