The periodic inventory records of

Saxton

Prosthetics indicate the following for the month of

July:

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At

July

31,

Saxton

counts

four

units of inventory on hand.

Compute ending merchandise inventory and cost of goods sold for

Saxton

using the FIFO inventory costing method.

	FIFO Cost
Ending Merchandise Inventory
Cost of Goods Sold

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Data Table

Jul. 1	Beginning merchandise inventory	8 units @ $25 each
Jul. 8	Purchase	15 units @ $20 each
Jul. 15	Purchase	15 units @ $32 each
Jul. 26	Purchase	12 units @ $35 each