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Inventory records for Marvin Company revealed the following: March 1 Beginning inventory 1,000 $8.00/unit March 5 Sale 400 March 10 Purchase 600 $8.25/unit March 14

Inventory records for Marvin Company revealed the following:

March 1 Beginning inventory 1,000 $8.00/unit

March 5 Sale 400

March 10 Purchase 600 $8.25/unit

March 14 Sale 700

March 16 Purchase 800 $9.50/unit

March 20 Sale 500

March 23 Purchase 600 $8.00/unit

March 26 Sale 700

Marvin Keeps his records on a periodic inventory basis. Calculate COGS and ending inventory using

FIFO : COGS __________ eanding inventory _________

Average cost COGS _________ Ending inventory

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