Shown below is the activity for one of the products of Random Creations:

January 1 balance, 85 units @ $54 $4,590

Purchases:

January 18: 45 units @ $56

January 28: 45 units @ $57

Sales:

January 12: 35 units January 22: 35 units

eBook

References

January 31: 50 units

Required:

Compute the January 31 ending inventory and cost of goods sold for January, assuming Random Creations uses FIFO.