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Tuttle Incorporated provided the following information regarding its inventory for the current year. (Click the icon to view the inventory information.) Determine Tuttle's ending
Tuttle Incorporated provided the following information regarding its inventory for the current year. (Click the icon to view the inventory information.) Determine Tuttle's ending inventory and cost of goods sold under the FIFO perpetual basis. Begin by preparing Tuttle's perpetual inventory record under the first-in, first-out (FIFO) method for the year. FIFO: Units Unit Total Transaction Purchased Cost Cost Units Sold Cost of Goods Sold Cost of Goods Inventory Per Unit Sold Balance Beginning inventory 1/11 4000 51 204000 Purchase March 30 4000 69 276000 Purchase-July 15 1200 75 90000 Sale September 1 Under the FIFO method, Tuttle's total cost of ending inventory is for the year is and the cost of goods sold ng Data table Transaction Units Sales in Units Unit Cost Total Cost Beginning inventory 1/1 4,000 $ 51 $ 204,000 on Purchases ory March 30 4,000 h3 July 15 1,200 69 75 69 276,000 90,000 75 15 September 1 5,600 r 1 570,000 Total available for sale 9,200 Units sold September 1 (5,600) 3,600 me Ending inventory Print Done -
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