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Required information In its first month of operations, Literacy for the llliterate opened a new bookstore and bought merchandise in the following order: (1) 300
Required information In its first month of operations, Literacy for the llliterate opened a new bookstore and bought merchandise in the following order: (1) 300 units at $5 on January 1, (2) 500 units at $9 on January 8, and (3) 910 units at $10 on January 29 . Assume 1,110 units are on hand at the end of the month. alculate the cost of goods available for sale, cost of goods sold, and ending inventory under the FIFO. Assume perpetual inventory stem and sold 600 units between January 9 and January 28. (Round your intermediate calculations to 2 decimal places.)
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