Kimberly Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales Gizmo for the month of March. Kimberly Company uses the perpetual inventory system. Purchases Sales Units Unit Cost Units Selling Price/Unit 3/1 Beginning inventory 100 $ 38 3/3 Purchase 65 $50 3/4 Sales 55 $ 85 3/10 Purchase 200 $ 60 3/16 Sales 85 $ 95 3/19 Sales 70 $ 95 3/25 Sales 65 $ 95 3/30 Purchase 45 $55 Using the FIFO assumption, calculate the amount charged to cost of goods sold for March. Cost of goods sold $ 12690 e Textbook and Media Solution Your Answer Correct Answer * Your answer is incorrect. Using the LIFO assumption, calculate the amount assigned to the inventory on hand on March 31. Ending Inventory $ 5705