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Posted on May 09, 2024

Transaction Units Cost per Unit January 1 Balance 1 7 5 $ 8 6 March 1 4 Sale 6 7 May 2 3 Purchase 1

Transaction Units Cost per Unit

January $1$ Balance $175$ $ $86$

March $14$ Sale $67$

May $23$ Purchase $134 90$

August $21$ Sale $100$

November $5$ Purchase $173 91$

November $18$ Sale $100$

November $30$ Sale $100$

December $5$ Sale $100$

December $10$ Purchase $25 95$

Required:

Compute the cost of goods sold and ending inventory using the perpetual inventory system for the FIFO cost flow

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