Pina Colada Supply Company sells many products. Gizmo is one of its popular items. Below is...
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Pina Colada Supply 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. Pina Colada Company uses the periodic inventory system. Purchases Sales Units Unit Cost Units Selling Price/Unit 3/1 Beginning inventory 106 $50 3/3 Purchase 61 $60 3/4 Sales 61 $80 3/10 Purchase 212 $65 3/16 Sales 69 $90 3/19 Sales 98 $90 3/25 Sales 61 $90 3/30 Purchase 45 $70 Using the FIFO assumption, calculate the amount charged to cost of goods sold for March Cost of goods sold Pina Colada Supply 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. Pina Colada Company uses the periodic inventory system. Purchases Sales Units Unit Cost Units Selling Price/Unit 3/1 Beginning inventory 106 $50 3/3 Purchase 61 $60 3/4 Sales 61 $80 3/10 Purchase 212 $65 3/16 Sales 69 $90 3/19 Sales 98 $90 3/25 Sales 61 $90 3/30 Purchase 45 $70 Using the FIFO assumption, calculate the amount charged to cost of goods sold for March Cost of goods sold
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