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under fifo The following transactions occurred for the month of May. Units Cost Total Sales Price Date 1-May Beginning Balance75 15 $1,125 2-May Purchase 3-May

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The following transactions occurred for the month of May. Units Cost Total Sales Price Date 1-May Beginning Balance75 15 $1,125 2-May Purchase 3-May Purchase 10-May Sale 85 12 $1,020 65 14 $910 135 $35 15-May Purchase 35 17 $595 17-May Sale 40 45 $35 $35 30-May Sale Calculate the Cost of Goods Sold, Ending inventory, and Gross Profit for the month under FIFO End of the month totals Cost of Goods Sold $ Ending Inventory Gross Profit

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