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please solve for (b) thanks! Current Attempt in Progress Sheffield Inc. uses a perpetual inventory system. Its records show the following for the month of
please solve for (b) thanks! Current Attempt in Progress Sheffield Inc. uses a perpetual inventory system. Its records show the following for the month of May. Unit Cost Date Units Total Cost $224 May Explanation Inventory Purchase 1 28 $8 May 15 26 9 234 18 Sale (49) May May 24 Purchase 39 10 390 Total 93 $848 Your answer is correct. Calculate the cost of goods sold for May and the ending inventory at May 31 using the FIFO formula. Cost of goods sold $ 413 Ending Inventory $ 435 e Textbook and Media (b) Your answer is incorrect. Calculate the cost of goods sold for May and the ending inventory at May 31 using the average cost formula. (For average, use 3 decimal places, e.g. 15.235 in your calculations and round final answers to 3 decimal places, e.g 5.255.) Cost of goods sold $ Ending Inventory $ e Textbook and Media Save for Later Last saved 1 minute ago. Saved work will be auto-submitted on the due date. Attempts: 1 of 15 used Submit
please solve for (b) thanks!
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