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Problem 6-3A Ayayai-Mart Centre Inc. began operations on May 1 and uses a perpetual inventory system. During May, the company had the following purchases and
Problem 6-3A Ayayai-Mart Centre Inc. began operations on May 1 and uses a perpetual inventory system. During May, the company had the following purchases and sales for one of its products: Purchases Units Unit Cost 120 $98 Sales Unit Price Date Units May 1 3 80 $250 8 100 108 13 80 276 15 60 113 20 60 302 325 27 40 Your answer is partially correct. Try again. Determine the cost of goods sold and cost of ending inventory using (1) FIFO and (2) average cost. (Round Average answers to 2 decimal places, e.g. 5.75.) FIFO Average Cost of Goods Sold 27080 ???? Ending Inventory 2260
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