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On December 1, Novak Corp. has three DVD players left in stock. All are identical, all are priced to sell at $81. One of the

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On December 1, Novak Corp. has three DVD players left in stock. All are identical, all are priced to sell at \$81. One of the three DVD players left in stock, with serial \#1012, was purchased on June 1 at a cost of $52. Another, with serial \#1045, was purchased on November 1 for $49. The last player, serial \#1056, was purchased on November 30 for $42. (a) Calculate the cost of goods sold using the FiFO periodic inventory method, assuming that two of the three players were sold by the end of December, Novak Corp' year-end. Cost of goods sold

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