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The inventory records of Duru Company reflected the following information for the month of September; Date Transaction Number of Units Unit Cost 1 Beginning Inventory

The inventory records of Duru Company reflected the following information for the month of September;

Date

Transaction

Number of Units

Unit Cost

1

Beginning Inventory

200

TL10

3

Purchase

300

8

5

Sale

250

11

Purchase

500

14

30

Sale

400

Assuming that unit selling price is 20 TL please determine the amount of ending merchandise inventory at the end of September and cost of goods sold and gross profit for the month September under FIFO method. (You do not have to make the journal entries).

Date

Purchase

COGS

Inventory on Hand

01.09

03.09

05.09

11.09

30.09

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