S6A-11 Computing periodic inventory amountsFIFO Learning Objective 7 Appendix 6ACompute ending merchandise inventory and cost of goods sold for Flexon using the FIFO inventory costing method.

Jul.1 Beginning merchandise inventory 6 units @$60 each

8 Purchase 5 units @$67 each

15 Purchase 10 units @$70 each

26 Pruchase 5 units @$85 each