P6-4B

BigFishTackle Co. Ltd. reports the following inventory transactions for its fishing rods for the month of April. The company uses a perpetual inventory system.

Date	Explanation	Units	Unit Cost	Total Cost
Apr.1	Beginning inventory	50	$230	$11,500
6	Purchases	35	240	8,400
9	Sales	(55)
14	Purchases	40	245	9,800
20	Sales	(50)
28	Purchases	30	250	7,500

Instructions

(a) Determine the cost of goods sold and cost of ending inventory using FIFO.