Unit Cost Total Cost Unit Cost Cost aty Cost Cost /1 4 $ 0.10 0.40 FIFO Summary Beginning Inventory 0.12$ 0.48 Total Available Less Ending Inventory Cost of Goods Sold TOTALS /1 Purchase pencils: 4x$0.10 0.40 Cash 0.40 Sale T 7/3 /12 /27 Customer bought two items for cash Customer bought three items for cash 2.00 3 Cost of good sold (COGS) S 0.20 Customer bought five items for cash Inventory Finish the jourmal entries storting here7/6 Amount colculated using o formula Costing Methods FIFO First-in, First-out LIFO Last-in, First-out AVE Moving Average 7/27