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Perpetual System-Calculating Ending Inventory and cost of Sales using FIFO Date Upland Co.'s inventory records showed the following data accounted for in a perpetual inventory
Perpetual System-Calculating Ending Inventory and cost of Sales using FIFO Date Upland Co.'s inventory records showed the following data accounted for in a perpetual inventory system. Units Unit Cost June 1 Inventory 1,500 $8.00 June 3 Purchases 3,000 8.40 June 7 Sales (at $16 per unit) 2,100 June 20 Purchases 2,040 9.00 June 22 Sales (at $16 per unit) 3,300 What is (a) ending inventory on June 30, and (b) cost of goods sold for June, using the FIFO inventory method? Note: Round your final answers below to the nearest whole dollar. a. Ending inventory on June 30 $ 0 b. Cost of goods sold for June $ 0
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