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Maria Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for

Maria Company sells many products. Gizmo is one of its popular items. Below is an analysis of the inventory purchases and sales of Gizmo for the month of March. Maria Company uses the perpetual inventory system.

Purchases Sales
Units Unit Cost Units Selling Price/Unit

3/1

Beginning inventory

105 $42

3/3

Purchase

55 $48

3/4

Sales

60 $75

3/10

Purchase

195 $50

3/16

Sales

90 $90

3/19

Sales

75 $90

3/25

Sales

65 $85

3/30

Purchase

35 $60

Using the FIFO assumption, calculate the amount charged to cost of goods sold for March.

Cost of goods sold $enter Cost of goods sold in dollars

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