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During 2021, a company sells 350 units of Inventory for $90 each. The company has the following inventory purchase transactions for 2021: Data Transaction Jan.
During 2021, a company sells 350 units of Inventory for $90 each. The company has the following inventory purchase transactions for 2021: Data Transaction Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase Number of Units 62 162 182 406 Unit Cout $65 66 Total Cost $ 4,030 10,692 12,376 $27,098 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses FIFO. Ending inventory Cost of goods sold
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