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Madan Corporation began operating on June 26 with no inventory on hand. It then made the purchases listed below. Maden Corporation sold and delivered 57
Madan Corporation began operating on June 26 with no inventory on hand. It then made the purchases listed below. Maden Corporation sold and delivered 57 units on June 30. Date Description Units Unit Cost Total Cost June 27 Purchase 22 $ 11.80 $ 259.60 June 28 Purchase 39 12.80 499.20 June 29 Purchase 39 14.80 577.20 Required: 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units in ending inventory at June 30. 3. Calculate the cost of ending inventory and the cost of goods sold under FIFO. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the cost of ending Inventory and the cost of goods sold under FIFO. (Do not round intermediate values, Round your "Cost of Goods Sold" answer to 2 decimal places.) Cost of Ending Cost of Goods Inventory Sold FIFO
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