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Skysong Sports began operations on January 2, 2020. The following stock record card for footballs was taken from the records at the end of the
Skysong Sports began operations on January 2, 2020. The following stock record card for footballs was taken from the records at the end of the year. Gross Units Unit Invoice Invoice Date Voucher Terms Received Cost Amount 1/15 10624 Net 30 56 $24 $1,344 3/15 11437 1/5, net 30 71 19 1,349 6/20 21332 1/10, net 30 9/12 27644 1/10, net 30 22 96 18 1,728 90 14 1,260 11/24 31269 1/10, net 30 82 13 1,066 Totals 395 $6,747 A physical inventory on December 31, 2020, reveals that 113 footballs were in stock. The bookkeeper informs you that all the discounts were taken. Assume that Skysong Football Shop uses the invoice price less discount for recording purchases. Compute the 2020 cost of goods sold using the LIFO method. (Round per unit and final answer to 2 decimal paces, e.g. 35.57.) Cost of Goods Sold using the LIFO method $
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