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The following information relates to Good Kitchen Ltd's inventory transactions during the month of March. Units Cost/Unit Amount Mar. 1 Beginning inventory 5,600 $20.00 $112,000
The following information relates to Good Kitchen Ltd's inventory transactions during the month of March. Units Cost/Unit Amount Mar. 1 Beginning inventory 5,600 $20.00 $112,000 7 Sale 4,300 12 Purchase 2,600 $22.00 $57,200 16 Purchase 700 $22.00 $15,400 18 Sale 1,600 27 Purchase 4,200 $27.00 $113,400 29 Sale 3,600 All of the units sold were priced at $59.00 per unit. (a1) Good Kitchen Ltd. uses the periodic inventory system. Calculate Good Kitchen's cost of goods sold, gross margin, and ending inventory for the month of March using FIFO. Cost of Goods Sold $ Gross margin $ Ending Inventory $
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