Timmy's Trucks was formed on January 1, 2015. Information provided at left shows Timmy's purchases for January 2015. A physical inventory at January 31, 2015 shows that Timmy has 20 trucks on hand.

Compute ending inventory and cost of goods sold for Timmy's Trucks for January 2014 using the periodic FIFO cost flow assumption.

		Cost per
Purchases	Units	Unit	Total
1/1/15	4	$ 9,000	$36,000
1/15/15	12	$ 10,000	$120,000
1/25/15	15	$ 10,500	$157,500
	31		$313,500
Ending inventory (units)	20