Inventory transactions December 3 Sale... December 8 Purchase .... December 11 Sale... December 19 Sale .... December 24 Sale... December 30 Purchase ... ..... Print Units 19 84 25 6 29 22 $ Unit Cost 32 33

Done $ Unit Sale Price 71 71 73 73 X

Assume an outlet of The Tilton's Store began December with 44 pairs of running shoes that cost the store $31 each. The sale price of these shoes was $71. D December, the store completed the below inventory transactions. Lew the inventerv transactions Read the requirements. Requirement 1a. Determine the store's cost of goods sold, gross profit, and ending inventory using FIFO, assuming the perpetual system is used. Begin by calculating the cost of goods sold using the FIFO method. (Round your answers to the nearest whole dollar.) Assume an outlet of The Tilton's Store began December with 44 pairs of running shoes that cost the store $31 each. The sale price of these shoes was $71. D December, the store completed the below inventory transactions. Lew the inventerv transactions Read the requirements. Requirement 1a. Determine the store's cost of goods sold, gross profit, and ending inventory using FIFO, assuming the perpetual system is used. Begin by calculating the cost of goods sold using the FIFO method. (Round your answers to the nearest whole dollar.)