Quantity Received Ending Date Received Unit Cost Total Units Quantity (Units) Inventory 10 000 4.10 41 000 November 2003 25 000 4.30 107 500 February 2004 30 000 4.40 132 000 4 000 17 600 May 2004 15 000 4.60 69 000 15 000 69 000 August 2004 40 000 4.65 186 000 40 000 186 000 TOTAL 120 000 535 500 59 000 272 600 Cost of goods sold = 535 500 - 272 600 = 262 900