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Roma Company uses the Periodic Inventory System. It reported the following transactions for the month of July 2021: Date Transaction # of units Cost /
Roma Company uses the Periodic Inventory System. It reported the following transactions for the month of July 2021:
Date | Transaction | # of units | Cost / Price per unit ($) | Total Cost/ price ($) |
1/7 | Beginning Inventory | 200 | 4 | 800 |
5/7 | Purchase | 500 | 4.5 | 2250 |
7/7 | Sale | 400 | 8 | 3200 |
15/7 | Purchase | 500 | 5 | 2500 |
22/7 | Sale | 450 | 8 | 2800 |
30/7 | Purchase | 200 | 6 | 1200 |
If the company uses FIFO to value its inventory, Calculate the value of Cost of goods sold for July, 2021.
Note: (write your answer as a number only, no dollar signs or commas)
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