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Sinicki Electronics uses a perpetual system to account for its inventory. Below is Sinicki's inventory data related to product EOB-305: Beginning Inventory plus June purchases:
Sinicki Electronics uses a perpetual system to account for its inventory. Below is Sinicki's inventory data related to product EOB-305: Beginning Inventory plus June purchases: 100 units @ $18/unit (purchased 5/12/X8) 10 units @ $9/unit (purchased 5/23/X8) 20 units @ $16/unit (purchased on 6/09/XB) 30 units @ $23/unit (purchased on 6/25/X8) June Sales 20 units @ $280/unit (sold 6/04/x8) 37 units @ $270/unit (sold 6/15/X8) 61 units @ $320/unit (sold 6/28/28) Calculate the cost of Goods Sold for product EOB-305 for June using the FIFO method
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