PRACTICE 1: Yellow Company

01.03.2018 Beginning Inventory 5.000 units purchased at cost TL 8 per unit.

05.03.2018 Purchased 10.000 units at cost TL 10 per unit.

10.03.2018 Sold 10.000 units at price TL 12 per unit.

15.03.2018 Sold 3.000 units for price TL 15 per unit.

20.03.2018 Purchased 5.000 units at cost TL 14 per unit

25.03.2018 Sold 6.000 units at cost TL 20 per unit

Required:

Calculate the followings according to FIFO method:

a) Total Cost of Goods Sold during the period;

b) Cost of Ending Inventory