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Martinez Outdoor Stores Inc. uses a perpetual inventory system and has a beginning inventory, as at April 1, of 154 tents. This consists of 48

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Martinez Outdoor Stores Inc. uses a perpetual inventory system and has a beginning inventory, as at April 1, of 154 tents. This consists of 48 tents purchased in February at a cost of $210 each and 106 tents purchased in March at a cost of $225 each. During April, the company had the following purchases and sales of tents: Purchases Units Unit Cost Date Apr. 3 10 Units 76 Sales Unit Price $368 190 $276 17 239 368 24 306 285 30 200 368 (a) Determine the cost of goods sold and the cost of the ending inventory using FIFO. Cost of goods sold $ Cost of the ending inventory $

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