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The following events pertains to Flattery Company that occurred during the month of September: 9/1 Beginning Inventory 400 units @ $50 each 9/5 Purchased 100
The following events pertains to Flattery Company that occurred during the month of September:
9/1 Beginning Inventory 400 units
@ $50 each 9/5 Purchased 100 units
@ $51 each 9/17 Sold 250 units
@ $91 each 9/22 Purchased 75 units
@$52 each 9/30 Sold 200 units
@ $92 each Flattery Company uses a periodic FIFO system.
Determine the cost of goods sold and ending inventory for the month of September.
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