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Purchases Units Unit Cost Units Sales Selling 210 140 $120 116 Price Unit Nov 1 13 29 Dec 3 16 Beginning inventory Purchase Sale Purchase

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Purchases Units Unit Cost Units Sales Selling 210 140 $120 116 Price Unit Nov 1 13 29 Dec 3 16 Beginning inventory Purchase Sale Purchase Sale 192 $174 100 112 104 168 Instructions (a) Using the FIFO cost formula, calculate the cost of goods sold for the two months of November and December. Show calculations. a) FIFO Purchase Cost of Goods Sold Balance Date Nov 1 Nov 13 Nov 29 Dec 3 Dec 16

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